Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 295.335

Amounts excluded from assessable income

    The assessable income of an entity does not include the amounts set out in this table.

Note:   For an explanation of the acronyms used, see section   295 - 35.

 

Amounts excluded from assessable income

Item

This entity:

Does not include this in assessable income:

1

CSF

CADF

PST

A bonus on a * life insurance policy (except a reversionary bonus)

2

PST

Amount attributable to amounts received from a * constitutionally protected fund

3

* RSA provider

A bonus on a * life insurance policy that is an * RSA (except a reversionary bonus)

Table of sections

295 - 385   Income from assets set aside to meet current pension liabilities

295 - 387   Disregarded small fund assets

295 - 390   Income from other assets used to meet current pension liabilities

295 - 395   Meaning of segregated non - current assets

295 - 400   Income of a PST attributable to current pension liabilities

295 - 405   Other exempt income

295 - 407   Covered superannuation income streams--RSAs

295 - 410   Amount credited to RSA


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