Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

Division 59 - Particular amounts of non-assessable non-exempt income  

Operative provisions  

SECTION 59-50   Native title benefits  

59-50(1)    
To the extent that a * native title benefit would otherwise be included in your assessable income, it is not assessable income and is not * exempt income if you are an * Indigenous person or an * Indigenous holding entity.

59-50(2)    
To the extent that an amount, or other benefit, arising directly or indirectly from a * native title benefit would otherwise be included in your assessable income, it is not assessable income and is not * exempt income if you are an * Indigenous person or an * Indigenous holding entity.

59-50(3)    
Neither subsection (1) nor (2) applies to an amount, or benefit, to the extent that it:

(a) is for the purposes of meeting the provider ' s administrative costs; or

(b) is remuneration or consideration for the provision of goods or services.

59-50(4)    
Subsection (2) does not apply to an amount, or benefit, to the extent that it arises directly or indirectly:

(a) from so much of:

(i) the * native title benefit; or

(ii) an amount, or benefit, arising directly or indirectly from the native title benefit;

as is not * non-assessable non-exempt income of an entity because of this section; or

(b) from an entity investing any or all of:

(i) the native title benefit; or

(ii) an amount, or benefit, arising directly or indirectly from the native title benefit.

59-50(5)    
A native title benefit is an amount, or * non-cash benefit, that:

(a) arises under:

(i) an agreement made under an Act of the Commonwealth, a State or a Territory, or under an instrument made under such an Act; or

(ii) an ancillary agreement to such an agreement;

to the extent that the amount or benefit relates to an act that would extinguish * native title or that would otherwise be wholly or partly inconsistent with the continued existence, enjoyment or exercise of native title; or

(b) is compensation determined in accordance with Division 5 of Part 2 of the Native Title Act 1993 .

Note 1:

Agreements that can be covered by paragraph (a) include:

(a) indigenous land use agreements (within the meaning of the Native Title Act 1993 ); and

(b) an agreement of the kind mentioned in paragraph 31(1)(b) of that Act; and

(c) recognition and settlement agreements (within the meaning of the Traditional Owner Settlement Act 2010 (Vic.)).

Note 2:

Paragraph (a) does not require a determination of native title under the Native Title Act 1993 .

59-50(6)    
An Indigenous holding entity is:

(a) a * distributing body; or

(b) a trust, if the beneficiaries of the trust can only be * Indigenous persons or Indigenous holding entities; or

(c) a * registered charity.