Taxation Laws Amendment Act (No. 4) 2003 (66 of 2003)

Schedule 3   Non-assessable non-exempt income

Income Tax Assessment Act 1997

70   At the end of Division 11

Add:

Subdivision 11-B - Particular kinds of non-assessable non-exempt income

Table of sections

11-50 Effect of this Subdivision

11-55 List of non-assessable non-exempt income provisions

11-50 Effect of this Subdivision

This Subdivision is a *Guide.

11-55 List of non-assessable non-exempt income provisions

The provisions set out in the list make amounts non-assessable non-exempt income.

Provisions of the Income Tax Assessment Act 1997 are identified in normal text. The other provisions, in bold , are provisions of the Income Tax Assessment Act 1936.

alienated personal services income

 

associate, non-deductible payment or obligation to

85-20(3)

entitlements to a share of net income that is personal services income already assessable to an individual

86-35(2)

payments by personal services entity or associate of personal services income already assessable to an individual

86-35(1)

personal services entity, amounts of personal services income assessable to an individual

86-30

bonds

 

see securities

  

dividends

 

demerger dividends

44(4)

later dividend set off against amount taken to be dividend

109ZC(3)

firearms surrender arrangements

 

compensation under

59-10

depreciated value, consideration exceeds

59(2AAA)

foreign aspects of income taxation

 

attributed controlled foreign company income

23AI

attributed foreign investment fund income

23AK

dividend from a foreign country, non-portfolio

23AJ

branch profits of Australian companies

23AH

withholding tax, dividend royalty or interest subject to

128D

GST

 

GST payable on a taxable supply

17-5(a)

increasing adjustments

17-5(b) and (c)

life insurance companies

Subdivision 320-B

mining

 

withholding tax, payments to Aboriginals and distributing bodies subject to

59-15

non-cash benefits

 

fringe benefits

23L(1)

notional sale and loan

 

arrangement payments a notional seller receives or is entitled to receive

240-40

luxury car leases, lease payments that the lessor receives or is entitled to receive

42A-40 in Schedule 2E

offshore banking units

 

assessable OB income other than eligible fraction

121EG

related entities

 

amounts from, where deduction reduced for

26-35(4)

repayable amounts

 

previously assessable amounts

59-30

securities

 

securities acquired at a discount on or before 30 June 1982, amount received on sale or redemption of

23J

special bond, amount received on redemption of

23E

small business assets

 

income arising from CGT event, company or trust owned asset continuously for 15 years

152-110(2)

social security or like payments

 

older Australians, bonus payments made to

59-5

tax loss transfers

 

consideration received by loss company from income company, generally

170-25(1)

consideration received by loss company from income company, net capital loss

170-125(1)

trading stock

 

disposal outside ordinary course of business, amounts received upon

70-90(2)

trusts

 

attributable income, amounts representing

99B(2A)

family trust distribution tax, amounts subject to

271-105(3) in Schedule 2F

windfall amounts

 

business franchise fees, refund of when invalid

59-20

State tax on Commonwealth place, refund of when invalid

59-25

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