Commonwealth Numbered Acts

INCOME TAX (COMPANIES, CORPORATE UNIT TRUSTS AND SUPERANNUATION FUNDS) ACT 1984 No. 100 of 1984 - SECT 5

5. (1) Income tax is imposed in accordance with this Act and at the rates
declared in this Act.

(2) This Act does not impose tax payable in accordance with section 121H, 126,
128B, 128N, 128T, 128V, 136A or 159C of the Assessment Act.

(3) This Act does not impose tax payable by-

   (a)  a natural person, other than-

        (i)    a person in the capacity of a trustee of a superannuation fund;

        (ii)   a person in the capacity of a trustee of a
               corporate unit trust;

        (iii)  a person in the capacity of a trustee of an ineligible approved
               deposit fund; or

        (iv)   a person in the capacity of a trustee of a trust estate, being
               a person who is liable to be assessed and to pay tax under
               sub-section 98 (3) of the Assessment Act; or

   (b)  a company in the capacity of a trustee, other than-

        (i)    a company in the capacity of a trustee of a
               superannuation fund;

        (ii)   a company in the capacity of a trustee of a
               corporate unit trust;

        (iii)  a company in the capacity of a trustee of an
               ineligible approved deposit fund; or

        (iv)   a company in the capacity of a trustee of a trust estate, being
               a company that is liable to be assessed and to pay tax under
               sub-section 98 (3) of the Assessment Act.

(4) This Act does not impose tax upon the taxable income of a non-profit
company, not being a registered organization, where that taxable income does
not exceed $416.