Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 9C - Assessable income diverted under certain tax avoidance schemes  

SECTION 121H   ASSESSMENT OF DIVERTED INCOME AND DIVERTED TRUST INCOME  

121H(1)   [Diverted non-trust income]  

A taxpayer, not being a taxpayer in the capacity of a trustee of a trust estate, shall be assessed and is liable to pay tax, at the rate declared by the Parliament for the purposes of this Division, upon the diverted income of the taxpayer of the year of income.

121H(2)   [Diverted trust income]  

A taxpayer in the capacity of a trustee of a trust estate shall be assessed and is liable to pay tax, at the rate declared by the Parliament for the purposes of this Division, upon the diverted trust income of the trust estate of the year of income.

121H(3)    

(Omitted by No 97 of 1989)