Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Your assessable income includes an amount you receive under an agreement for the planting and tending of trees for felling if:
(a) you are the manager of the agreement as mentioned in section 82KZMG of the Income Tax Assessment Act 1936 ; and
(b) the amount satisfies, for the entity that paid it, the requirements of that section.
The amount is included for the income year in which the entity can claim a deduction for the amount.
(2) No part of an amount included under subsection (1) is
included in your assessable income for a later income year.