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Part XI repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income.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Div 18 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income.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Subdiv B repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income.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S 537 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income.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 537 formerly read:

SECTION 537 PROCEDURE FOR DETERMINING FOREIGN INVESTMENT FUND INCOME BY MARKET VALUE METHOD  
537(1)
This Subdivision applies only if it is practicable to ascertain, as at the relevant times referred to in this Subdivision, the market value of the interest, or the market values of all the interests in a particular class or classes, of a person ( ``the taxpayer'' ) in a FIF. For the purposes of this Subdivision as so applying, a reference to an interest in a FIF is a reference to an interest of which it is practicable to ascertain the market value as at the relevant time.

537(2)
Accordingly, this Subdivision sets out the procedure for determining by the market value method whether, in respect of the interest, or the interests in the class or classes concerned, any foreign investment fund income accrued to the taxpayer from the FIF in respect of a notional accounting period ( ``the relevant period'' ). There are 2 steps in this procedure, which are set out in sections 538 and 542 , respectively.

S 537 inserted by No 190 of 1992.