Lodgment of returns and statements for the year ended 30 June 2003 - Income Tax
TABLE NTABLE N
Start here
Get a plain-English read of TABLE N
Turn the raw legal text into a practical explanation grounded in Lodgment of returns and statements for the year ended 30 June 2003 - Income Tax.
TABLE N
Any person that for the whole of the year of income ended 30 June 2003, or approved period in lieu, was:
(a) a subsidiary member of a consolidated group (as defined in Division 703 of the ITAA 1997); or
(b) a subsidiary member of a MEC group (as defined in Division 719 of the ITAA 1997).
This description only operates as an exception to a requirement to furnish an income tax return with respect to the entity's activities that are consolidated into the head company of the group under Part 3-90 of the ITAA 1997.
************************
AUSTRALIA INCLUDES TERRITORIES AND CERTAIN SEA INSTALLATIONS AND OFFSHORE AREAS
In this notice 'Australia' includes Norfolk Island, the Territory of Cocos (Keeling) Islands, the Territory of Christmas Island and certain sea installations and offshore areas. However, income derived by Territory residents, Territory companies or Territory trusts (as defined in Division 1A of Part III of the ITAA 1936) of Norfolk Island, from sources in Norfolk Island and from outside Australia, is exempt from income tax under the provisions of sections 24F and 24G of the ITAA 1936.
***********************