Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 86.30

    * Ordinary income or * statutory income of the * personal services entity is neither assessable income nor * exempt income of the entity, to the extent that it is * personal services income included in your assessable income under section   86 - 15.

Note:   Subsection   118 - 20(4) prevents this income being treated as a capital gain.