Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 1 - General  

 View history note

 Hide history note

History

Archived:

S 17 repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 38, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .

SECTION 23L   CERTAIN BENEFITS IN THE NATURE OF INCOME NOT ASSESSABLE  

View history reference

23L(1)    

View history reference

Income derived by a taxpayer by way of the provision of a fringe benefit is not assessable income and is not exempt income of the taxpayer.

 View history note

 Hide history note

History

S 23L(1) amended by No 101 of 2006 , s 3 and Sch 2 item 166, by omitting " within the meaning of the Fringe Benefits Tax Assessment Act 1986 " after " fringe benefit " , effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 23L(1) and (1A) substituted for s 23L(1) by No 66 of 2003.

23L(1A)    

View history reference

Income derived by a taxpayer by way of the provision of a benefit (other than a benefit to which section 15-70 of the Income Tax Assessment Act 1997 applies) that, but for paragraph (g) of the definition of fringe benefit in subsection 136(1) of the Fringe Benefits Tax Assessment Act 1986 , would be a fringe benefit is exempt income of the taxpayer.

 View history note

 Hide history note

History

S 23L(1A) amended by No 97 of 2008 , s 3 and Sch 3 item 10, by substituting " section 15-70 " for " section 15-75 " , applicable to assessments for the 2006-07 year of income and later income years.

S 23L(1A) amended by No 101 of 2006 , s 3 and Sch 2 items 167 and 168, by amending references to repealed inoperative provisions, effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 23L(1) and (1A) substituted for s 23L(1) by No 66 of 2003.

23L(2)    

View history reference

Where:

(a) in a year of income, a taxpayer derives income consisting of one or more non-cash business benefits (within the meaning of section 21A ); and

(b) the total amount that is applicable under section 21A in respect of those benefits does not exceed $300;

the income is exempt income.

 View history note

 Hide history note

History

S 23L(2) inserted by No 95 of 1988.

S 23L inserted by No 41 of 1986.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.