Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 6AA - Income of certain children  

SECTION 102AA   INTERPRETATION  

102AA(1)   [Definitions]  

In this Division, unless the contrary intention appears:

agreement
means any agreement, arrangement, understanding or scheme, whether formal or informal, whether express or implied and whether or not enforceable, or intended to be enforceable, by legal proceedings.

occupation
includes any office, employment, trade, business, profession, vocation or calling, but does not include a course of education at a school, college, university or similar institution.

property
means property whether real or personal, and includes money.

102AA(2)   [Derivation of assessable income]  

In this Division:

(a) a reference to the derivation by a person of assessable income shall be read as including a reference to the inclusion of an amount in the assessable income of the person; and

(b) a reference to the derivation by a person of any assessable income from particular property shall be read as including a reference to the inclusion of an amount in the assessable income of the person in respect of that property.

102AA(3)   [Share of a beneficiary of net income of trust]  

In this Division, a reference to the share of a beneficiary of the net income of a trust estate shall be read as a reference to a share of the beneficiary of the net income of a trust estate:

(a) that is included in the assessable income of the beneficiary under section 97 or 100 ; or

(b) in respect of which the trustee of the trust estate is liable to be assessed and to pay tax in pursuance of section 98 .

102AA(4)   [Income derived from property]  

A reference in this Division to income that is derived from particular property shall be read as including a reference to income that is derived from property that, in the opinion of the Commissioner, represents that property.