Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:8_1
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 8 cl 1
Character Range: 944650–945783

1  At the end of the Act
Add:

[The next Division is Division 405.]

Division 405—Above‑average special professional income of authors, inventors, performing artists, production associates and sportspersons

Table of sections

405‑1 Application of Division 405 of the Income Tax Assessment Act 1997

405‑1  Application of Division 405 of the Income Tax Assessment Act 1997

 (1) Division 405 of the Income Tax Assessment Act 1997 applies for the purposes of assessments for the 1998‑99 income year and later income years.

 (2) It applies for the purposes of your assessment as if:

 (a) for each income year earlier than the 1998‑99 income year you had a taxable professional income equal to your eligible taxable income (if any) under Division 16A of Part III of the Income Tax Assessment Act 1936 for that earlier income year; and

 (b) you had been an Australian resident for each income year before the 1998‑99 income year for which you were a qualifying resident taxpayer under Division 16A of Part III of the Income Tax Assessment Act 1936.

Part 2—Consequential amendment of the Income Tax Assessment Act 1936