Income Tax Assessment Act 1997
SECTION 6-23 6-23 Non-assessable non-exempt income
An amount of * ordinary income or * statutory income is non-assessable non-exempt income if a provision of this Act or of another * Commonwealth law states that it is not assessable income and is not * exempt income.
Note:
Capital gains and losses on assets used to produce some types of non-assessable non-exempt income are disregarded (see section 118-12 ).
For a summary list of provisions about non-assessable non-exempt income, see Subdivision 11-B .
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