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 15-75  

15-75   Bonuses  

Your assessable income includes any amount you receive as or by way of bonus on a *life insurance policy, other than a reversionary bonus.

Note:

Reversionary bonuses are covered by section 6-5 of this Act if they are ordinary income and, if not, by section 26AH of the Income Tax Assessment Act 1936 .