Income Tax Assessment Act 1936

Part XI repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. No 114 of 2010, Sch 1 item 95 contains the following saving provisions:

95 Saving of regulations relating to stock exchanges  
95
Despite the repeal of the definition of approved stock exchange in section 470 of the Income Tax Assessment Act 1936 by item 37 of this Schedule, regulations made for the purposes of that definition that were in force immediately before this item commences continue in force on and after that commencement as if those regulations had been made for the purposes of the definition of approved stock exchange in the Income Tax Assessment Act 1997 as inserted by item 81 of this Schedule. 96 Saving of elections relating to foreign hybrids  
96
Despite the repeal of subsection 485AA(1) of the Income Tax Assessment Act 1936 by item 37 of this Schedule, elections made under that subsection continue to have effect on and after the commencement of this Schedule as if that repeal had not happened.

Part XI inserted by No 190 of 1992.

Div 1 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part XI heading.

Subdiv B repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part XI heading.

S 478 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part XI heading. S 478 formerly read:

SECTION 478 TAX DETRIMENT  
478(1)
For the purposes of this Part, each of the following is a tax detriment to a partner in a partnership:

(a) an increase in an amount included under section 92 in the partner ' s assessable income in respect of an interest in the net income of the partnership;

(b) a reduction in an amount allowable under section 92 as a deduction to the partner in respect of the partner ' s interest in a partnership loss of the partnership;

(c) a combination of such a reduction to nil and such an increase.

478(2)
For the purposes of this Part, an increase in an amount included under section 97 , 98A or 100 in the assessable income of a beneficiary in respect of a share of the net income of a trust is a tax detriment to the beneficiary.

478(3)
For the purposes of this Part, an increase (including from nil) in an amount assessable to a trustee under section 98 in respect of a beneficiary ' s share of, or under section 99 or 99A in respect of the whole or a part of, the net income of a trust is a tax detriment to the trustee.

478(4)
The amount of the tax detriment is equal to the amount of the increase or reduction or, if paragraph (1)(c) applies, the sum of the amounts of the reduction and increase.

S 478 inserted by No 190 of 1992.