Income Tax Assessment Act 1997

CHAPTER 1 - INTRODUCTION AND CORE PROVISIONS  

PART 1-4 - CHECKLISTS OF WHAT IS COVERED BY CONCEPTS USED IN THE CORE PROVISIONS  

Division 11 - Particular kinds of non-assessable income  

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History

Div 11 (heading) substituted by No 66 of 2003.

Subdivision 11-A - Lists of classes of exempt income  

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Subdiv 11-A (heading) inserted by No 66 of 2003.

SECTION 11-1  

11-1   Overview  

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Ordinary income or statutory income which is exempt from income tax can be divided into 2 main classes:

(a) ordinary or statutory income of entities that are exempt, no matter what kind of ordinary or statutory income they have (see table in section 11-5 );

(b) ordinary or statutory income of a kind that is exempt (see table in section 11-15 ).

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(c) (Repealed by No 12 of 2012)

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S 11-1 amended by No 12 of 2012, s 3 and Sch 6 items 133 - 134, by substituting " 2 main classes " for " 3 main classes " and substituting para (b) for para (b) and (c), effective 21 March 2012. Para (b) and (c) formerly read:

(b) ordinary or statutory income which is exempt, no matter whose it is (see table in section 11-10 );

(c) ordinary or statutory income which is exempt only if it is ^* derived by certain entities (see table in section 11-15).

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