Document ID: chunk:federal_register_of_legislation:C2025C00029:section:10:p25
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 10 (pt 25/29)
Character Range: 275254–277991

copyright collecting society to give you a notice at the time of payment.

15‑23  Payments of resale royalties by resale royalty collecting society
 (1) This section, instead of Division 6 of Part III of the Income Tax Assessment Act 1936, applies to a payment that the *resale royalty collecting society makes to you under section 26 of the Resale Royalty Right for Visual Artists Act 2009.
 (2) Your assessable income includes the amount of the payment, except to the extent that the payment represents an amount on which the directors of the society are or have been assessed, and are liable to pay *tax, under section 98, 99 or 99A of the Income Tax Assessment Act 1936.
Note: Section 410‑50 of this Act requires the resale royalty collecting society to give you a notice at the time of payment.

15‑25  Amount received for lease obligation to repair
  Your assessable income includes an amount you receive from an entity if:
 (a) you receive it as a lessor or former lessor of premises; and
 (b) the entity pays you the amount for failing to comply with a lease obligation to make repairs to the premises; and
 (c) the entity uses or has used the premises for the *purpose of producing assessable income; and
 (d) the amount is not assessable as *ordinary income under section 6‑5.
Note: The entity can deduct the amount: see section 25‑15.

15‑30  Insurance or indemnity for loss of assessable income
  Your assessable income includes an amount you receive by way of insurance or indemnity for the loss of an amount (the lost amount) if:
 (a) the lost amount would have been included in your assessable income; and
 (b) the amount you receive is not assessable as *ordinary income under section 6‑5.

15‑35  Interest on overpayments and early payments of tax
  Your assessable income includes interest payable to you under the Taxation (Interest on Overpayments and Early Payments) Act 1983. The interest becomes assessable when it is paid to you or applied to discharge a liability you have to the Commonwealth.

15‑40  Providing mining, quarrying or prospecting information or geothermal exploration information
 (1) Your assessable income includes an amount you receive for providing *mining, quarrying or prospecting information to another entity if:
 (a) you continue to *hold the information; and
 (b) the amount you receive is not assessable as *ordinary income under section 6‑5.
 (2) Your assessable income includes an amount you receive for providing *geothermal exploration information you have to another entity if:
 (a) you continue to have the information; and
 (b) the information is, and continues to be, relevant to:
 (i) *geothermal energy extraction that you carry on or propose to carry on; or
 (ii) a *business