Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p53
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 53/59)
Character Range: 7999241–8001816

the meaning given by section 104‑95.
net capital gain has the meaning given by sections 102‑5 and 165‑111.
Note: For income years before 1998‑99, net capital gain has the meaning given by section 102‑20 of the Income Tax (Transitional Provisions) Act 1997.
net capital loss has the meaning given by sections 102‑10 and 165‑114 and affected by section 701‑30.
net current termination value of a *life insurance policy means so much of the *current termination value of the policy as relates to the part of the policy that is not reinsured under a *contract of reinsurance.
net debt deductions has the meaning given by section 820‑50.
net exempt film income for an income year is your *exempt film income for that year reduced by:
 (a) any taxes payable in respect of that income in a country or place outside Australia; and
 (b) any expenses (not of a capital nature) so far as you incurred them during that year in deriving that income.
net exempt income has the meaning given by section 36‑20.
net forgiven amount, of a debt, has the meaning given by sections 245‑85 and 245‑90.
net fuel amount has the meaning given by section 60‑5 of the Fuel Tax Act 2006.
net GST: Your net GST for a *supply, is:
 (a) the *GST payable by you on the supply; plus
 (b) the sum of any *increasing adjustments that you have relating to the supply; minus
 (c) the sum of any *decreasing adjustments that you have relating to the supply.
net income:
 (a) of a partnership—has the same meaning as in Division 5 of Part III of the Income Tax Assessment Act 1936; and
 (b) of a trust (other than a *public trading trust or an *AMIT)—has the same meaning as in Division 6 of Part III of that Act; and
 (c) of a public trading trust—has the same meaning as in Division 6C of Part III of that Act; and
 (d) of an AMIT—means the AMIT's total assessable income, reduced by all deductions of the AMIT.
net input tax credit: Your net input tax credit for an *acquisition or *importation is:
 (a) the amount of any *input tax credit to which you are entitled for the acquisition or *importation; minus
 (b) the sum of any *increasing adjustments that you have relating to the acquisition or *importation; plus
 (c) the sum of any *decreasing adjustments that you have relating to the acquisition or *importation.
net investment component of ordinary life insurance policies has the meaning given by subsection 713‑515(4).
net overstated amount has the meaning given by subsection 104‑525(3).
net premium for a *life insurance policy means the amount of the *life insurance premium for the policy less the