Income Tax Assessment Act 1936
View history note
Hide history noteDiv 1A repealed by No 53 of 2015, s 3 and Sch 1 item 1, applicable in relation to the 2016-17 income year and later income years.
Division 1A comprising s 24B to s 24N inserted by No 164 of 1973.
(Repealed by No 53 of 2015)
S 24B repealed by No 53 of 2015, s 3 and Sch 1 item 1, applicable in relation to the 2016-17 income year and later income years. S 24B formerly read:
prescribed person
Definition of
"
prescribed person
"
amended by No 41 of 2011, s 3 and Sch 5 Pt 27, by removing gender-specific language, effective 27 June 2011.
SECTION 24B INTERPRETATION
24B(1)
In this Division, unless the contrary intention appears:
means
-
(a)
a person who is a Territory resident;
(b)
a person who is a trustee of a trust that is a Territory trust in relation to the year of income, being the person in his or her capacity as trustee of that trust; or
(c)
a company that is a Territory company in relation to the year of income.
prescribed Territory
means Norfolk Island.
Archived:
Definition of " prescribed Territory " substituted by No 101 of 2006 , s 3 and Sch 2 item 171, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .
24B(2)
For the purposes of this Division:
(a) a reference to an agreement, right, power or option shall be construed as including a reference to an agreement, right, power or option that is not enforceable by legal proceedings whether or not it was intended to be so enforceable; and
(b) an arrangement or understanding, whether formal or informal and whether expressed or implied, shall be deemed to be an agreement.
24B(3)
Where the effect of a provision of this Division that refers to the derivation of income by a person not being a company or to the application of income for the benefit of a person not being a company depends upon the determination of the question whether or not the person is a Territory resident, that question shall be determined as at the time of the derivation of the income by the person or of the application of the income for the benefit of the person, as the case may be.
24B(4)
This Division applies in relation to profits or gains of a capital nature in the same manner as it applies in relation to income.
S 24B(4) inserted by No 52 of 1986.
24B(5)
For the purposes of this Division (other than section 24C), the adjacent area, within the meaning of the Sea Installations Act 1987 , in relation to a prescribed Territory shall, after the commencement of this subsection, be taken to be part of the prescribed Territory.
S 24B(5) inserted by No 11 of 1988.
S 24B inserted by No 164 of 1973.
Archived:
S 24BA and 24BB repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 49, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .
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