Income Tax Assessment Act 1936 is an act of the Parliament of Australia. It's one of the main statutes under which income tax is calculated. The act is gradually being rewritten into the Income Tax Assessment Act 1997, and new matters are generally now added to the 1997 act.
The reason for rewriting the act is that amendments over the years have made it thousands of pages long, and very complex. Amendments have also created subsection upon subsection, for example 221YHAAC(2)(e)(iii)(A).
Read more about Income Tax Assessment Act 1936: Section 260, Other Operative Highlights, Other Superseded Highlights
Famous quotes containing the words income, tax, assessment and/or act:
“I know everybody’s income and what everybody earns,
And I carefully compare it with the income-tax returns;”
—Sir William Schwenck Gilbert (1836–1911)
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who do not tax their lives with forethought
of grief.”
—Wendell Berry (b. 1934)
“The first year was critical to my assessment of myself as a person. It forced me to realize that, like being married, having children is not an end in itself. You don’t at last arrive at being a parent and suddenly feel satisfied and joyful. It is a constantly reopening adventure.”
—Anonymous Mother. From the Boston Women’s Health Book Collection. Quoted in The Joys of Having a Child, by Bill and Gloria Adler (1993)
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Nature or unrestrained appetite.
Like and enjoy, to will and act is one;
We only sin when love’s rites are not done.”
—Thomas Carew (1589–1639)