Income Tax Assessment Act 1997
To the extent that a * native title benefit would otherwise be included in your assessable income, it is not assessable income and is not * exempt income if you are an * Indigenous person or an * Indigenous holding entity.
59-50(2)
To the extent that an amount, or other benefit, arising directly or indirectly from a * native title benefit would otherwise be included in your assessable income, it is not assessable income and is not * exempt income if you are an * Indigenous person or an * Indigenous holding entity.
59-50(3)
Neither subsection (1) nor (2) applies to an amount, or benefit, to the extent that it:
(a) is for the purposes of meeting the provider ' s administrative costs; or
(b) is remuneration or consideration for the provision of goods or services.
59-50(4)
Subsection (2) does not apply to an amount, or benefit, to the extent that it arises directly or indirectly:
(a) from so much of:
(i) the * native title benefit; or
as is not * non-assessable non-exempt income of an entity because of this section; or
(ii) an amount, or benefit, arising directly or indirectly from the native title benefit;
(b) from an entity investing any or all of:
(i) the native title benefit; or
(ii) an amount, or benefit, arising directly or indirectly from the native title benefit.
59-50(5)
A native title benefit is an amount, or * non-cash benefit, that:
(a) arises under:
(i) an agreement made under an Act of the Commonwealth, a State or a Territory, or under an instrument made under such an Act; or
to the extent that the amount or benefit relates to an act that would extinguish * native title or that would otherwise be wholly or partly inconsistent with the continued existence, enjoyment or exercise of native title; or
(ii) an ancillary agreement to such an agreement;
(b) is compensation determined in accordance with Division 5 of Part 2 of the Native Title Act 1993 .
Note 1:
Agreements that can be covered by paragraph (a) include:
Note 2:
Paragraph (a) does not require a determination of native title under the Native Title Act 1993 .
59-50(6)
An Indigenous holding entity is:
(a) a * distributing body; or
(b) a trust, if the beneficiaries of the trust can only be * Indigenous persons or Indigenous holding entities; or
(c) a * registered charity.
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