Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 51.120

    The following amounts are exempt from income tax:

  (a)   an amount of interest paid under paragraph   69(7AA)(b) of the Banking Act 1959 ;

Note:   An amount of interest paid under paragraph   69(7AA)(a) of the Banking Act 1959 is not ordinary income or statutory income.

  (b)   an amount of interest paid under subsection   1341(3A) of the Corporations Act 2001 ;

  (e)   an amount of interest paid under paragraph   216(7A)(b) of the Life Insurance Act 1995 .

Note:   An amount of interest paid under paragraph   216(7A)(a) of the Life Insurance Act 1995 is not ordinary income or statutory income.

Note:   For interest paid under the Superannuation (Unclaimed Money and Lost Members) Act 1999 , see subsections   307 - 142(3B) and (3C).