Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-1 - ASSESSABLE INCOME  

Division 15 - Some items of assessable income  

Operative provisions  

SECTION 15-20   Royalties  

15-20(1)    
Your assessable income includes an amount that you receive as or by way of royalty within the ordinary meaning of " royalty " (disregarding the definition of royalty in subsection 995-1(1) ) if the amount is not assessable as ^* ordinary income under section 6-5 .

15-20(2)    

Subsection (1) does not apply to an amount of a payment to which section 15-22 or 15-23 applies.