Taxation Laws Amendment Act (No. 4) 2003 (66 of 2003)
Schedule 3 Non-assessable non-exempt income
Taxation Administration Act 1953
137 After section 360-75 in Schedule 1
Insert:
360-77 Basic categories of non-assessable non-exempt income
This section covers *ordinary income, or *statutory income, to the extent that it is *non-assessable non-exempt income because of:
(a) subsection 23L(1) of the Income Tax Assessment Act 1936 (about fringe benefits); or
(b) section 59-5 of the Income Tax Assessment Act 1997 (about bonus payments made to certain older Australians).
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