Commonwealth Numbered Acts

Income Tax (Companies, Corporate Unit Trusts and Superannuation Funds) Act 1981 No. 156 of 1981 - SECT 3

3. (1) In this Act, unless the contrary intention appears-

''Assessment Act'' means the Income Tax Assessment Act 1936;

''corporate unit trust'' means a unit trust that is a corporate unit trust
within the meaning of Division 6B of Part III of the Assessment Act;

''friendly society dispensary'' means a friendly society dispensary to which
Division 9A of Part III of the Assessment Act applies;

''investment income'' has the same meaning as in Division 9B of Part III of
the Assessment Act;

''non-profit company'' means-

   (a)  a company that is not carried on for the purposes of profit or gain to
        its individual members and is, by the terms of the company's
        constituent document, prohibited from making any distribution, whether
        in money, property or otherwise, to its members; or

   (b)  a friendly society dispensary;

''superannuation fund'' means a provident, benefit, superannuation or
retirement fund;

''tax'' means income tax referred to in sub-section 5 (1).

(2) In this Act, a reference to investment income, net income or taxable
income shall be read as a reference to investment income, net income or
taxable income, as the case may be, of the year of income.