ITAA 1936 definition
Examples of ITAA 1936 in a sentence
In all other circumstances the election commencement time is the first day of the income year specified in item 6 of Section A, orn varying the specified individual of a family trust election under subsection 272-80(5C) of Schedule 2F to the ITAA 1936 as a result of an order, an agreement, or an award.
Do not include at B amounts that are subject to a final withholding tax, for example, amounts subject to withholding tax under section 128B of the ITAA 1936.
Upon distribution of the Insurance Proceeds to the Beneficiaries of the Trust, they would normally be exempt from Income or Capital Gains Tax in the hands of the Beneficiaries pursuant to section 97(1)(b) of the ITAA 1936.
Write at B item 43 the amount of the company's unfranked non-portfolio dividend account surplus at the end of the income year determined under subsection 46FB(2) of the ITAA 1936.
Question 43 If an amount is deducted by a company under section 46FA of the ITAA 1936, the company is required under subsection 46FA(4) to maintain an unfranked non- portfolio dividend account under section 46FB of the ITAA 1936.
This summary is based upon the provisions of the Income Tax Assessment Act 1936 (Cth) (ITAA 1936), the Income Tax Assessment Act 1997 (Cth) (ITAA 1997) and the Taxation Administration Act 1953 (Cth) (TAA 53) as at the date of this Scheme Booklet.
Section 30-220 of the ITAA 1997 (inserted by Act No. 121 of 1997, and amended by Act No. 176 of 1999), in conjunction with Subsection 78A(5) of the ITAA 1936, allows a donor a reduced tax deduction in cases where the donee does not, under the terms and conditions of the gift, have full title, custody, or control of the property.
The Company is exempt from income tax under section 24AM of the Income Tax Assessment Act 1936 (ITAA 1936) on the basis that the Company is a State/Territory Body (STB), by virtue of the fact that the Company’s sole shareholder is the Sunshine Coast Regional Council.
Although the guide is detailed, it may not cover all the qualifications and conditions contained in the law that relate to your circumstances: for example, it does not discuss the special rules in Subdivision F of Division 8 of Part X of the ITAA 1936 that apply in working out attributable income for companies conducting banking or insurance activities.
The primary question put before the Court was whether the determinations made by the Commissioner in respect of each taxpayer were invalid on the basis that the Commissioner had made simultaneous determinations under the same provisions of the ITAA 1936 for the same year, and in relation to the same income, which were inconsistent with each other.