Income Tax Assessment Act 1936

SCHEDULE 2D - TAX EXEMPT ENTITIES THAT BECOME TAXABLE  

Division 57 - Tax exempt entities that become taxable  

Subdivision 57-C - Time when income derived  

SECTION 57-15   TIME WHEN INCOME DERIVED  

57-15(1)    
To the extent that income derived by the transition taxpayer before the transition time is in respect of:

(a) services rendered; or

(b) goods provided; or

(c) the doing of any other thing;

at or after the transition time, the income is treated for the purposes of this Act as having been derived at the time the services were rendered, the goods were provided or the thing was done, as the case requires.

57-15(2)    
To the extent that income derived by the transition taxpayer at or after the transition time is in respect of:

(a) services rendered; or

(b) goods provided; or

(c) the doing of any other thing;

before the transition time, the income is treated for the purposes of this Act as having been derived before that time.