Document ID: chunk:federal_register_of_legislation:C2024C00866:section:46
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 46
Character Range: 653878–654539

46  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 2.
Note 1: For ordinary income see subsection 5H(1).
Note 2: For other provisions affecting the amount of a person's ordinary income see section 46AA (work bonus), sections 46B and 46C (business income), Division 3 (income from financial assets (including income streams (short term) and certain income streams (long term)) and Division 4 (income from income streams not covered by Division 3).