Income Tax Assessment Act 1936
View history note
Hide history noteIn this Subdivision:
asset
means property, or a right, of any kind, and includes:
(a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible, in real or personal property) of any kind; and
(b) any chose in action; and
(c) any right, interest or claim of any kind including rights, interests or claims in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing); and
(d) (Repealed by No 101 of 2006 )
(e) a CGT asset;
but does not include trading stock.
liability
includes a duty or obligation of any kind (whether arising under an instrument or otherwise, and whether actual, contingent or prospective).
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