Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The amount included in your assessable income for the income year is equal to the amount of associated earnings stated in the most recent of those determinations.
(2) However, if:
(a) the sum of any amounts paid in response to release authorities issued in relation to those determinations (the total amount ) is less than the amount of the excess stated in the most recent of those determinations; and
(b) section 292 - 467 does not apply to you for the * financial year;
the amount included in your assessable income for the income year is equal to the amount of associated earnings that would have been stated in that most recent determination if the total amount had been the amount of the excess stated in that determination.
Note 1: The release authorities are issued under Division 131, or former Division 96, in Schedule 1 to the Taxation Administration Act 1953 .
Note 2: Any amounts paid in response to the release authorities are non - assessable non - exempt income (see section 303 - 15 or former sections 303 - 15 and 303 - 17).