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Part XI repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income.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Div 18 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income.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Subdiv D repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income.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S 562 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income.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 562 formerly read:

SECTION 562 NOTIONAL INCOME - DISCOUNTED SECURITIES  
562(1)
Subject to subsection (2), if the FIF was the holder of a qualifying security within the meaning of Division 16E of Part III during the relevant period, that Division applies, so far as it is capable of application, for the purpose of determining whether an amount is included in the notional income of the FIF of the relevant period in respect of that security as if the FIF were a taxpayer that is a resident and that period were the year of income in which that period ends.

562(2)
If the accounting standards applicable during the relevant period in the country in which the FIF is incorporated or established require part of any discount or deferred interest in respect of the qualifying security to be treated in the accounts of the FIF as having been derived by the FIF during that period on an accruing basis, and an amount is shown in those accounts as having been so derived, the amount to be included in the notional income of the FIF of that period in respect of that security is the amount so shown in those accounts.

S 562 inserted by No 190 of 1992.