Income Tax Assessment Act 1997
SECTION 6-10 Other assessable income ( statutory income ) 6-10(1)
Your assessable income also includes some amounts that are not * ordinary income.
Note:
These are included by provisions about assessable income. For a summary list of these provisions, see section 10-5 .
6-10(2)
Amounts that are not * ordinary income, but are included in your assessable income by provisions about assessable income, are called statutory income .
Note 1:
Although an amount is statutory income because it has been included in assessable income under a provision of this Act, it may be made exempt income or non-assessable non-exempt income under another provision: see sections 6-20 and 6-23 .
Note 2:
Many provisions in the summary list in section 10-5 contain rules about ordinary income. These rules do not change its character as ordinary income.
View history note
Hide history note6-10(3)
If an amount would be * statutory income apart from the fact that you have not received it, it becomes statutory income as soon as it is applied or dealt with in any way on your behalf or as you direct.
6-10(4)
If you are an Australian resident, your assessable income includes your * statutory income from all sources, whether in or out of Australia.
6-10(5)
If you are a foreign resident, your assessable income includes:
(a) your * statutory income from all * Australian sources; and
(b) other * statutory income that a provision includes in your assessable income on some basis other than having an * Australian source.
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.
