Document ID: chunk:federal_register_of_legislation:C2025C00162:section:1072
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 1072
Character Range: 2054797–2055467

1072  General meaning of ordinary income
  A reference in this Act to a person's ordinary income for a period is a reference to the person's gross ordinary income from all sources for the period calculated without any reduction, other than a reduction under Division 1A.
Note 1: For ordinary income see subsection 8(1).
Note 2: For other provisions affecting the amount of a person's ordinary income see section 1073AA (work bonus), sections 1074 and 1075 (business income), Division 1B (income from financial assets (including income streams (short term) and certain income streams (long term)) and Division 1C (income from income streams not covered by Division 1B).