A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

INCOME TAX ASSESSMENT ACT 1936

PART III - LIABILITY TO TAXATION  

Division 16E - Accruals assessability, etc., in respect of certain security payments    View history reference

SECTION 159GQ  TAX TREATMENT OF HOLDER OF QUALIFYING SECURITY  

 View history reference

159GQ(1)  Accrual amounts to be worked out.  


If a taxpayer holds a qualifying security for all or part of a year of income, the effect on the taxpayer's taxable income is determined by working out the accrual amount (see section 159GQB ) for each accrual period (see section 159GQA ) in the year of income and then summing the accrual amounts.

159GQ(2)  Positive sum assessable.  


If the sum is a positive amount, the amount is included in the assessable income of the taxpayer of the year of income.

159GQ(3)  Negative sum deductible.  


If the sum is a negative amount, a deduction of the amount is allowable in the assessment of the taxpayer of the year of income.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page