Document ID: chunk:federal_register_of_legislation:C2014C00672:clause:1_34
Version: federal_register_of_legislation:C2014C00672
Segment Type: clause
Provision Reference: sch 1 cl 34
Character Range: 19269–20342

34  At the end of Division 51
Add:

51‑120  Interest on unclaimed money and property
  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;
 (c) an amount of interest paid under subsection 51C(1A) of the First Home Saver Accounts Act 2008;
 (d) an amount an *FHSA provider contributes or pays under paragraph 51C(2)(b) of the First Home Saver Accounts Act 2008 because it receives an amount under subsection 51C(1A);
 (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).