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Income Tax Assessment Act 1997
6‑23 Non‑assessable non‑exempt income6‑23 Non‑assessable non‑exempt income
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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.