Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

Division 59 - Particular amounts of non-assessable non-exempt income  

Operative provisions  

SECTION 59-15   Mining payments  

59-15(1)    
These are not assessable income and are not *exempt income:

(a) a *mining payment made to a *distributing body;

(b) a mining payment made to one or more * Indigenous persons, or applied for their benefit.

59-15(2)    
A payment:

(a) made to a *distributing body; or

(b) made to one or more * Indigenous persons, or applied for their benefit;

is not assessable income and is not *exempt income if the payment is made by a *distributing body out of a *mining payment that it has received.

59-15(3)    
A payment made to a *distributing body by another distributing body, out of a *mining payment received by the other distributing body, is taken to be a mining payment for the purposes of:

(a) any further applications of subsection (2); and

(b) any further applications of this subsection.

59-15(4)    
Subsection (2) does not apply to a payment by a *distributing body for the purposes of meeting its administrative costs.

59-15(5)    
This section does not apply to an amount paid to or applied for the benefit of a person if it is remuneration or consideration for goods or services provided by that person.