Income Tax Assessment Act 1997

CHAPTER 1 - INTRODUCTION AND CORE PROVISIONS  

PART 1-4 - CHECKLISTS OF WHAT IS COVERED BY CONCEPTS USED IN THE CORE PROVISIONS  

Division 11 - Particular kinds of non-assessable income  

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

SECTION 11-55  

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  
capital gains tax  
  small business retirement exemption, payments made directly or indirectly to CGT concession stakeholder so company or trust complies with section 152-325 152-310
cash flow boost  
  payments in accordance with the Boosting Cash Flow for Employers (Coronavirus Economic Response Package) Act 2020 59-90
Coronavirus economic response  
  certain payments in accordance with the Coronavirus Economic Response Package (Payments and Benefits) Act 2020 59-95
  State and Territory grants to small business relating to the recovery from the coronavirus 59-97
  Commonwealth small business support payments relating to the coronavirus 59-98
  COVID-19 disaster payment 59-96
demutualisation of friendly society health or life insurers  
  amounts related to issue, or transfer from lost policy holders trust, of demutualisation assets 316-255
  payments received directly, or from lost policy holders trust, in exchange for cancellation or variation of interests under the demutualisation 316-255
demutualisation of private health insurers  
  market value of shares and rights at time of issue 315-310
  payments received in exchange for cancellation or variation of interests under the demutualisation 315-310
disasters  
  2019-20 bushfires - payments for volunteer work with fire services 59-55
  2019-20 bushfires - disaster relief payments and non - cash benefits 59-60
  2019 floods - recovery grants 59-85
  2019 floods - on-farm grant program 59-86
  2021 floods and storms - recovery grants 59-99
  Cyclone Seroja - recovery grants 59-105
dividends  
  demerger dividends 44(4)
  later dividend set off against amount taken to be dividend 109ZC(3) , 109ZCA(4)
electricity generation  
  refund of large-scale generation shortfall charge 59-100
employment  
  early retirement scheme payment, tax free amount of 83-170
  employment termination payment 82-10 , 82-65 , 82-70
  foreign termination payment 83-235 , 83-240
  genuine redundancy payment, tax free amount of 83-170
  unused long service leave payment, pre-16/8/78 period 83-80
  see superannuation and sections 82-10A and 82-10C of the Income Tax (Transitional Provisions) Act 1997  
environment  
  water infrastructure improvement payments 59-65
farm-in farm-out arrangements  
  rewards for providing exploration benefits 40-1135
financial arrangements  
  gains related to non-assessable non-exempt income 230-30
firearms surrender arrangements  
  compensation under 59-10
[ first home saver accounts] (Repealed by No 70 of 2015)  
foreign aspects of income taxation  
  attributed controlled foreign company income, amounts paid out of 23AI
  attributed foreign investment fund income, amounts paid out of 23AK
  certain forex realisation gains 775-25
  branch profits of Australian companies 23AH
  distributions of conduit foreign income 802-20
  income derived by foreign residents in exclusive economic zone or on or above continental shelf 768-110
  foreign equity distributions on participation interests 768-5
  income derived by temporary residents 768-910
  interest paid by temporary residents 768-980
  managed investment trust withholding tax, amount subject to 840-815
  labour mobility program withholding tax, amount subject to 840-915
  superannuation fund, foreign, interest and dividend income of 128B(3)(jb)
  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)
investment manager regime  
  IMR concessions 842-215
life insurance companies Subdivision 320-B
mining  
  withholding tax, payments to Indigenous persons and distributing bodies subject to 59-15
mutual receipts  
  amounts that would be mutual receipts but for prohibition on distributions to members or issue of MCIs 59-35
National Rental Affordability Scheme  
  payments made, and non-cash benefits provided, by a State or Territory governmental body in relation to participation in the National Rental Affordability Scheme 380-35
native title benefits  
  native title benefits 59-50
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 242-40
  deemed loan treatment for financial benefits provided for tax preferred use of asset 250-160
[ offshore banking units] (Repealed by No 110 of 2021)  
related entities  
  amounts from, where deduction reduced for 26-35(4)
repayable amounts  
  previously assessable amounts 59-30
rights to acquire shares or units  
  market value of at time of issue 59-40
[ securities] (Repealed by No 47 of 2016)  
small business assets  
  income arising from CGT event, company or trust owned asset continuously for 15 years 152-110(2)
sovereign entities Subdivision 880-C
[social security or like payments] (Repealed by No 145 of 2010)  
superannuation  
  benefits generally Divisions 301 to 306
  commutation of income stream, under 25 years 303-5
  death benefits 302-60 , 302-65 , 302-70 , 302-140
  departing Australia superannuation benefits 301-175
  foreign superannuation funds, lump sum benefits 305-60 , 305-65 , 305-70
  KiwiSaver schemes, contributions to complying superannuation funds from 312-10
  KiwiSaver schemes, superannuation benefits paid from complying superannuation funds to 312-15
  KiwiSaver schemes, superannuation benefits paid by Commissioner to 312-20
  member benefits 301-10 , 301-15 , 301-30 , 301-225
  release authorities, payments from 303-15
303-20
  roll-over superannuation benefits 306-5
  superannuation lump sum for recipient having terminal medical condition 303-10
  unclaimed money payment to government 306-20
[ tax bonus] (Repealed by No 32 of 2014)  
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)
  consideration received for transfer of tax losses relating to transitioned petroleum activities 417-70
temporary residents  
  see foreign aspects of income taxation  
trading stock  
  disposal outside ordinary course of business, amounts received upon 70-90(2)
transfer of entitlements to deductions  
  consideration received for transfer of entitlements to deductions relating to transitioned petroleum activities 417-70
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
withholding taxes  
  see foreign aspects of income taxation and mining  


 

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