Income Tax Assessment Act 1936
Sections and provisions with full text and the judgments that cite each one.
Section 82KZMD — Business expenditure and non-business expenditure by non-individual
(2) For each year of income containing all or part of the eligible service period for the expenditure, the taxpayer may deduct the amount worked out using the formula: Note: This section does not…
Section 82KZME — Expenditure under some agreements
(1) Section 82KZMF applies to set the amount and timing of deductions for expenditure that a taxpayer incurs in a year of income (the expenditure year) if: (a) apart from that section, the taxpayer…
Section 82KZMF — Proportional deduction
(1) If this section applies to expenditure incurred by a taxpayer in a year of income: (a) the taxpayer cannot deduct all of the expenditure for the expenditure year; and (b) instead, the taxpayer…
Section 82KZMG — Deductions for certain forestry expenditure
(1) Sections 82KZMD and 82KZMF do not affect the timing of a deduction for expenditure incurred by a taxpayer in a year of income (the expenditure year) to the extent that the requirements of this…
Section 82KH — Interpretation
(1) In this Subdivision, unless the contrary intention appears: additional benefit, in relation to an amount of eligible relevant expenditure, means the additional benefit, or the aggregate of the…
Section 82KJ — Deduction not allowable in respect of certain pre-paid outgoings
Where: (a) a loss or outgoing in respect of which a deduction would, but for this Subdivision, be allowable, was incurred by a taxpayer after 19 April 1978 by reason of, as a result of or as part of…
Section 82KK — Schemes designed to postpone tax liability
(1) This section applies to a loss or outgoing incurred by a taxpayer if: (a) the loss or outgoing was incurred after 19 April 1978 and was incurred to an associate of the taxpayer; (b) a deduction…
Section 82KL — Tax benefit not allowable in respect of certain recouped expenditure
(1) Where the sum of the amount or value of the additional benefit in relation to an amount of eligible relevant expenditure incurred by a taxpayer and the expected tax saving in relation to that…
Section 82KZL — Interpretation
(1) In this Subdivision, unless the contrary intention appears: agreement means any agreement, arrangement, understanding or scheme, whether formal or informal, whether express or implied and whether…
Section 82L — Interpretation
(1) In this Division, unless the contrary intention appears: attributable income has the meaning given by Division 7 of Part X. CFC or controlled foreign company has the meaning given by section 340.…
Section 82KZM — Expenditure by small and medium business entities and individuals incurring non-business expenditure
(1) Where: (a) a taxpayer incurs expenditure under an agreement entered into after 25 May 1988; and (aa) at least one of the following applies: (i) the taxpayer is a small business entity, or is…
Section 82M — New loans and replacement loans
(1) Where: (a) a loan to a company is made, and is wholly made, by money being paid to the company at the time when the loan is made; and (b) the loan is not part of or related to a transaction, or…
Section 82KZN — Transfer etc. of rights under agreement
Where: (a) under an agreement entered into either before or after the commencement of this section, a taxpayer (in this section called the original taxpayer) incurs expenditure in return for the…
Section 82KZO — Partnership changes where entire interest in agreement rights is not transferred
Where: (a) under an agreement entered into after 25 May 1988, a person (in this section called the original person), or the partners in a partnership (in this section called the original…
Section 82P — Bonus share allotments
(1) For the purposes of this section, the making of a bonus share allotment by a company is the allotment by the company of shares (in this section referred to as bonus shares) in the capital of the…
Section 82Q — Classes of shares
(1) Shares in the capital of a company to which there are attached the same rights, including the following rights: (a) rights in respect of voting; (b) rights in respect of dividends; (c) rights in…
Section 82R — Interest on certain convertible notes not to be an allowable deduction
(1) Subject to section 82SA, this section applies to a convertible note issued by a company, not being: (a) a convertible note issued on or before 15 November 1960; or (b) a convertible note: (i) the…
Section 82T — Value of shares
(1) For the purposes of section 82SA, the value of a fully paid share as at the valuation date is: (a) where: (i) the share is included in a class of shares that, during the whole of the relevant…
Section 90 — Interpretation
In this Division: exempt income, in relation to a partnership, means the exempt income of the partnership calculated as if the partnership were a taxpayer who was a resident. net income, in relation…
Section 91 — Liability of partnerships
A partnership shall furnish a return of the income of the partnership, but shall not be liable to pay tax thereon.
Section 92 — Income and deductions of partner
(1) The assessable income of a partner in a partnership shall include: (a) so much of the individual interest of the partner in the net income of the partnership of the year of income as is…
Section 92A — Deductions in respect of outstanding subsection 92(2AA) amounts
(1) If: (a) the partner is a limited partner in a partnership; and (b) the partnership is a VCLP, an ESVCLP, an AFOF or a VCMP during the year of income; and (c) the amount allowable under subsection…
Section 94 — Partner not having control and disposal of share in partnership income
(1) Subject to this section, where: (a) a share in the net income of a partnership of a year of income is included in the assessable income of a partner in the partnership, not being: (i) a company;…
Section 94A — Object
The object of this Division is to provide for certain limited partnerships to be treated as companies for tax purposes.
Section 94B — Interpretation
In this Division: income tax law means: (a) this Act (other than this Division and Division 830 of the Income Tax Assessment Act 1997); and (b) an Act that imposes any tax payable under this Act; and…
Section 94C — Continuity of limited partnership not affected by changes in composition
For the purposes of this Division, a change in the composition of a limited partnership does not affect the continuity of the partnership.
Section 94D — Corporate limited partnerships
(1) For the purposes of this Division, a limited partnership is a corporate limited partnership in relation to a year of income of the partnership if: (a) the year of income is the 1995-96 year of…
Section 94E — Continuity of business test
In determining whether a limited partnership is a corporate limited partnership in relation to a year of income, the partnership passes the continuity of business test if, and only if: (a) at all…
Section 94F — Change in composition of limited partnership—election that partnership not be treated as an eligible limited partnership
An election referred to in paragraph 94D(1)(d) in relation to a limited partnership and in relation to a year of income has no effect unless: (a) the partnership passes the continuity of ownership…
Section 94G — Continuity of ownership test
In determining whether a limited partnership is a corporate limited partnership in relation to a year of income, the partnership passes the continuity of ownership test if, and only if: (a) at all…
Section 94H — Corporate tax modifications applicable to corporate limited partnerships
If a partnership is a corporate limited partnership in relation to a year of income, the income tax law has effect, in relation to the partnership and in relation to the year of income, subject to…
Section 94J — Company includes corporate limited partnership
A reference in the income tax law (other than the definitions of dividend, and resident or resident of Australia, in section 6 of this Act and other than Division 355 of the Income Tax Assessment Act…
Section 94K — Partnership does not include corporate limited partnership
A reference in the income tax law to a partnership does not include a reference to the partnership.
Section 94L — Dividend includes distribution of corporate limited partnership
A reference in the income tax law (other than subsection 44(1A) of this Act) to a dividend or to a dividend within the meaning of section 6: (a) includes a reference to a distribution made by the…
Section 94M — Drawings etc. deemed to be dividends paid out of profits
(1) If the partnership pays or credits an amount to a partner in the partnership: (a) against the profits or anticipated profits of the partnership; or (b) otherwise in anticipation of the profits of…
Section 94N — Private company does not include corporate limited partnership
A reference in the income tax law to a private company in relation to the year of income does not include a reference to the partnership. Note: Division 7A (Distributions to entities connected with a…
Section 94P — Share includes interest in corporate limited partnership
A reference in the income tax law to a share includes a reference to an interest in the partnership.
Section 94Q — Shareholder includes partner in corporate limited partnership
A reference in the income tax law to a shareholder includes a reference to a partner in the partnership.
Section 94R — Liquidator may include partner in corporate limited partnership
For the purposes of the income tax law: (a) a reference to the liquidator of the partnership includes a reference to a partner in the partnership who carries out the winding-up of the partnership;…
Section 94S — Continuity of corporate limited partnership not affected by changes in composition
For the purposes of the income tax law, a change in the composition of the partnership does not affect the continuity of the partnership.
Section 94T — Residence of corporate limited partnership
(1) For the purposes of the income tax law, the partnership is: (a) a resident; and (b) a resident within the meaning of section 6; and (c) a resident of Australia; and (d) a resident of Australia…
Section 94U — Incorporation
For the purposes of the income tax law, the partnership is taken to have been incorporated: (a) in the place where it was formed; and (b) under a law in force in that place.
Section 94V — Obligations and offences
(1) The application of the income tax law to the partnership as if the partnership were a company is subject to the following changes: (a) obligations that would be imposed on the partnership are…
Section 94X — Modification of loss provisions
Subdivisions 165-A and 165-B of the Income Tax Assessment Act 1997 apply in relation to the partnership as if the provisions relating to voting power had not been enacted.
Section 95 — Interpretation
(1) In this Division: adjusted Division 6 percentage, of an entity that is a beneficiary or trustee of a trust estate, means the entity’s Division 6 percentage of the income of the trust estate…
Section 95A — Special provisions relating to present entitlement
(1) For the purposes of this Act, where a beneficiary of a trust estate is presently entitled to any income of the trust estate, the beneficiary shall be taken to continue to be presently entitled to…
Section 95AAA — Simplified outline of the relationship between this Division, Division 6E and Subdivisions 115-C and 207-B of the Income Tax Assessment Act 1997
The following is a simplified outline of the relationship between this Division, Division 6E and Subdivisions 115-C and 207-B of the Income Tax Assessment Act 1997. This Division sets out the basic…
Section 95AAB — Adjustments under Subdivision 115-C or 207-B of the Income Tax Assessment Act 1997—references in this Act to assessable income under section 97, 98A or 100
(1) Subsection (2) applies if an amount is included in the assessable income of a beneficiary of a trust estate because of Subdivision 115-C or 207-B of the Income Tax Assessment Act 1997. (2) For…
Section 95AB — Modifications for special disability trusts
(1) This Division applies with the modifications set out in this section in relation to a year of income in relation to a trust estate that is a special disability trust at the end of the year of…
Section 95B — Certain beneficiaries deemed not to be under legal disability
For the purposes of this Act, a beneficiary of a trust estate who is presently entitled to a share of the income of the trust estate in the capacity of a trustee of another trust estate shall, in…