Tax Laws Amendment (2006 Measures No. 2) Act 2006 (58 of 2006)
Schedule 7 Technical corrections and improvements
Part 1 Amendments commencing on Royal Assent
Income Tax Assessment Act 1997
56 Subsection 6-10(2) (note)
Repeal the note, substitute:
Note 1: Although an amount is statutory income because it has been included in assessable income under a provision of this Act, it may be made exempt income or non-assessable non-exempt income under another provision: see sections 6-20 and 6-23.
Note 2: Many provisions in the summary list in section 10-5 contain rules about ordinary income. These rules do not change its character as ordinary income.