INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 1 - General  

SECTION 23AE   CERTAIN MINING PAYMENTS NOT INCLUDED IN ASSESSABLE INCOME  

23AE(1A)   [No effect from 1997/98 income year]  

This section does not apply to an assessment for the 1997-98 year of income or a later year of income.

Note:

Section 59-15 of the Income Tax Assessment Act 1997 applies instead.

23AE(1)   [Interpretation]  

In this section, ``Aboriginal'' , ``distributing body'' and ``mining payment'' have the same respective meanings as in section 128U .

23AE(2)   [Mining payment made to distributing body]  

Where a mining payment is made to a distributing body, no part of the amount of the payment shall be included in the assessable income of that distributing body.

23AE(3)   [Mining payment made direct to Aboriginal]  

Where a mining payment is made to, or applied for the benefit of, an Aboriginal or Aboriginals, no part of that amount shall be included in the assessable income of that Aboriginal or of those Aboriginals, as the case may be.

23AE(4)   [Payments made by distributing body]  

Where a distributing body has received a mining payment and expends the whole or a part of the amount of that payment (which whole or part is in this subsection referred to as the ``relevant amount'' ) in making a payment to or for the benefit of an Aboriginal or Aboriginals or in making a payment to another distributing body, the relevant amount shall not be included in the assessable income of that Aboriginal or those Aboriginals or of that other distributing body, as the case may be.

23AE(5)   [Mining payment made by one distributing body to another]  

Where a distributing body has received a mining payment and expends the whole or a part of the amount of that payment in making a payment to another distributing body, the amount of the payment received by the other distributing body shall, for the purposes of any subsequent application or applications of subsection (4) and for the purposes of any other application of this subsection, be taken to be a mining payment received by that other distributing body.

23AE(6)   [Administrative costs of distributing body]  

The reference in subsection (4) to the expenditure by a distributing body of the whole or a part of a mining payment shall be read as not including a reference to any amount expended by the distributing body for the purposes of meeting its administrative costs (whether in respect of remuneration or allowances or otherwise).

23AE(7)   [Remuneration for services, etc]  

This section does not operate to exclude from the assessable income of a person an amount that is paid to, or applied for the benefit of, the person if the amount is paid to, or applied for the benefit of, the person by way of remuneration or as consideration for goods or services provided by the person.