Income Tax Assessment Act 1997

Pt 2-15 (heading) substituted by No 66 of 2003.

Pt 2-15 inserted by No 121 of 1997.

Div 53 inserted by No 121 of 1997.

S 53-10 amended by No 103 of 2023, s 3 and Sch 2 item 10, by inserting " former " in table item 2, effective 1 January 2024.

S 53-10 amended by No 109 of 2014, s 3 and Sch 10 items 24 and 25, by repealing table item 4B and note 2, effective 17 October 2014. For transitional provision see note under s 15-65 . Table item 4B and note 2 formerly read:

4B

Sugar industry exit grant

The program known as the Sugar Industry Reform Program

As a condition of receiving the grant, you entered into an undertaking not to become the owner or operator of any agricultural *enterprise within 5 years after receiving the grant

Note 2:

A sugar industry exit grant referred to in table item 4B is included in assessable income if the recipient becomes the owner or operator of an agricultural enterprise (except a sugar industry enterprise) within 5 years after receiving the grant: see subsection 15-65(2) .

S 53-10 amended by No 13 of 2014, s 3 and Sch 2 item 149, by repealing table item 4D, effective 1 October 2014. Table item 4D formerly read:

4D

Transitional Farm Family Payment or Interim Farm Household Allowance

The program known as the Transitional Farm Family Payment program or as the Interim Farm Household

Only so much of the payment as is included: (a) in lieu of clean energy advance; or (b) by way of energy supplement; is exempt

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History

S 53-10 amended by No 122 of 2014, s 3 and Sch 1 item 293, by substituting " energy supplement " for " clean energy supplement " in table item 4D, column headed " ... is exempt subject to these exceptions and special conditions: " , effective 20 September 2014. No 122 of 2014, s 3 and Sch 1 item 294(3) contains the following transitional provision:

294 Transitional provisions  
…

294(3)
Item 4D of the table in section 53-10 of the Income Tax Assessment Act 1997 applies on and after the commencement of this item as if a reference in that item to energy supplement included a reference to clean energy supplement.

S 53-10 amended by No 13 of 2014, s 3 and Sch 2 items 43 and 44, by repealing table items 1A, 3, and 4, and note 1, applicable in relation to payments made after 1 July 2014, other than any such payment that relates to a day before 1 July 2014. The table items and note 1 formerly read:

1A	Clean energy advance	The Farm Household Support Act 1992	None
.
3	Exceptional circumstances relief payment or farm help income support: payment made other than because of a person ' s death	The Farm Household Support Act 1992	Only the supplementary amount is exempt (see section 53-15)
.
4	Exceptional circumstances relief payment or farm help income support: payment made because of a person ' s death	Paragraph 49(b) of the Farm Household Support Act 1992	None

Note 1:

References in this section to exceptional circumstances relief payment also cover amounts paid as drought relief payment - see item 4 of Schedule 3 to the Farm Household Support Amendment (Restart and Exceptional Circumstances) Act 1997 .

S 53-10 amended by No 13 of 2013, s 3 and Sch 2 item 144, by substituting table item 4D, effective 26 February 2014. Table item 4D formerly read:

4D

Transitional Farm Family Payment

The program known as the Transitional Farm Family Payment program

Only so much of the payment as is included: (a) in lieu of clean energy advance; or (b) by way of clean energy supplement; is exempt

S 53-10 amended by No 58 of 2012, s 3 and Sch 4 item 13, by inserting table item 4D, applicable in relation to payments made in the 2012-13 income year or a later income year.

S 53-10 amended by No 12 of 2012, s 3 and Sch 6 item 183, by substituting " section 641 of the Income Tax (Earnings and Pensions) Act 2003 of the United Kingdom " for " subsection 315(2) of the Income and Corporation Taxes Act 1988 of the United Kingdom " in para (a) of the cell at table item 5, column headed " ... is exempt subject to these exceptions and special conditions: " , effective 21 March 2012.

S 53-10 (table) amended by No 141 of 2011, s 3 and Sch 10 item 17, by inserting table item 1A, effective 14 May 2012.

S 53-10 (table) amended by No 97 of 2008 , s 3 and Sch 3 item 80, by repealing table item 4A, effective 3 October 2008. The item formerly read:

4A ... Farm household support payment made by way of a grant of financial assistance ... The Farm Household Support Act 1992 ... Only the supplementary amount is exempt (see section 53-15)

S 53-10 (table) amended by No 38 of 2008, s 3 and Sch 13 item 2, by substituting table items 1 and 2 for table item 1, applicable to assessments for the 2007-08 income year and later years. Table item 1 formerly read:

1... Disability services payment ... Part III of the Disability Services Act 1986 ... None

S 53-10 (table) amended by No 38 of 2008, s 3 and Sch 10 item 3, by inserting table item 4C, applicable to tobacco industry exit grants received in the 2006-07 income year and later income years.

S 53-10 (table) amended by No 20 of 2004 and No 144 of 2000.

S 53-10 amended by No 13 of 1999, No 102 of 1998, No 179 of 1997, inserted by No 121 of 1997.