INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteFor the purposes of this Part:
(a) a taxpayer shall be deemed to have received money or other property if the money or other property has been applied for the benefit, or in accordance with the directions, of the taxpayer; and
(b) a taxpayer shall be deemed to be entitled to receive money or other property if the taxpayer is entitled to have the money or other property applied for the benefit, or in accordance with the directions, of the taxpayer. 160D(2) [Application of money or property]
For the purposes of this Part, a reference in subsection (1) to the application of money or other property for the benefit of a taxpayer includes, without limiting the generality of the expression, a reference to the application of money or other property in the discharge, in whole or in part, of a debt due by the taxpayer.
160D(3) [Effect limited]Nothing in this section limits the operation of subsections 6-5(4) and 6-10(3) of the Income Tax Assessment Act 1997 .
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