Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this Act, unless the contrary intention appears:
"Assessment Act" means the Income Tax Assessment Act 1936 .
"non-profit company" means:
(a) a company that is not carried on for the purposes of profit or gain to its individual members and is, by the terms of the company's constituent document, prohibited from making any distribution, whether in money, property or otherwise, to its members; or
(b ) a friendly society dispensary.
"prescribed unit trust" means a trust estate that is a public trading trust within the meaning of Division 6C of Part III of the Assessment Act.
(2) In this Act, a reference to taxable income shall be read as a reference to taxable income of the year of income.