Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section, instead of Division 6 of Part III of the Income Tax Assessment Act 1936 , applies to a payment that a * copyright collecting society, to which section 51 - 43 applies, makes to you as a * member of the society.
(2) Your assessable income includes the amount of the payment, except to the extent that the payment represents an amount on which the directors of the society are or have been assessed, and are liable to pay * tax, under section 98, 99 or 99A of the Income Tax Assessment Act 1936 .
Note: Section 410 - 5 of this Act requires a copyright collecting society to give you a notice at the time of payment.