Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 159GR

  (1)   Where a payment (not being a payment that is, or to the extent that it consists of, a periodic interest payment, a redemption payment or a partial redemption payment) is made or liable to be made in a year of income to a taxpayer under a qualifying security:

  (a)   no amount shall be included in the assessable income of the taxpayer of the year of income in respect of the payment otherwise than under section   159GQ; and

  (b)   where the taxpayer acquired the qualifying security on transfer--no amount shall be allowable as a deduction from the assessable income of the taxpayer of the year of income in respect of the payment otherwise than under section   159GQ.