Income Tax Assessment Act 1997
Chapter 4 inserted by No 162 of 2001.
Part 4-5 inserted by No 162 of 2001.
Div 840 inserted by No 32 of 2008 , s 3 and Sch 1 item 2, applicable to fund payments made in relation to the first income year starting on or after the first 1 July after 23 June 2008 and later income years.
Subdiv 840-M inserted by No 32 of 2008 , s 3 and Sch 1 item 2, applicable to fund payments made in relation to the first income year starting on or after the first 1 July after 23 June 2008 and later income years.
SECTION 840-815 Certain income is non-assessable non-exempt income 840-815(1)
An amount on which * managed investment trust withholding tax is payable is not assessable income and is not * exempt income of an entity.
S 840-815(1) amended by No 53 of 2016, s 3 and Sch 3 item 3, by inserting " (1) " before " An amount on " , effective 5 May 2016. For application provision, see note under Div 276 heading.
840-815(2)
Subsection (1) does not apply to an Australian resident to the extent that:
(a) *managed investment trust withholding tax is payable on the amount because of subsection 840-805(4D) ; and
(b) the Australian resident is entitled, directly or indirectly, to the amount.
S 840-815(2) inserted by No 53 of 2016, s 3 and Sch 3 item 4, effective 5 May 2016. For application provision, see note under Div 276 heading.
S 840-815 inserted by No 32 of 2008 , s 3 and Sch 1 item 2, applicable to fund payments made in relation to the first income year starting on or after the first 1 July after 23 June 2008 and later income years.
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