Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-50 - CLIMATE CHANGE  

Division 420 - Registered emissions units  

Subdivision 420-C - Disposing of registered emissions units etc.  

SECTION 420-25   Assessable income on disposal of registered emissions units  

420-25(1)    
Your assessable income includes an amount that you are entitled to receive because you cease to *hold a *registered emissions unit.

Timing

420-25(2)    
The amount is included in your assessable income for the income year in which you cease to *hold the unit.

Source

420-25(3)    
An amount included in your assessable income under subsection (1) is taken, for the purposes of the *income tax laws, to have a source in Australia.