Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 6.23

Non - assessable non - exempt income

    An amount of * ordinary income or * statutory income is non - assessable non - exempt income if a provision of this Act or of another * Commonwealth law states that it is not assessable income and is not * exempt income.

Note:   Capital gains and losses on assets used to produce some types of non - assessable non - exempt income are disregarded (see section   118 - 12).

For a summary list of provisions about non - assessable non - exempt income, see Subdivision   11 - B.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback