Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 6CA

  (1)   In this section:

"double tax agreement" means an agreement within the meaning of the International Tax Agreements Act 1953 .

"natural resource income" means income that:

  (a)   is derived by a non - resident; and

  (b)   is calculated, in whole or in part, by reference to the value or quantity of natural resources produced, recovered or produced and recovered, in Australia after 7   April 1986;

but does not include:

  (c)   income that consists of royalty; or

  (d)   income where:

  (i)   on 7   April 1986, the non - resident had a continuing entitlement to receive the income;

  (ii)   the income was derived by the non - resident pursuant to that continuing entitlement;

  (iii)   the non - resident was, at 5 o'clock in the afternoon, by standard time in the Australian Capital Territory on 7   April 1986, a resident, within the meaning of a double tax agreement, of a foreign country in respect of which the double tax agreement was in force;

  (iv)   before 8   April 1986, the Commissioner had given a statement in writing to the effect that income tax would be levied on 50% of income included in a specified class of income; and

  (v)   the income is included in that class of income.

  (2)   For the purposes of Divisions   5 and 6 of Part   III, natural resource income shall be deemed to be attributable to sources in Australia.

  (3)   For the purposes of section   255 of this Act and sections   6 - 5 and 6 - 10 of the Income Tax Assessment Act 1997 , natural resource income shall be deemed to have been derived from a source in Australia.