Tax Legislation

    Plain English explanations of key sections from Australian tax legislation including the Income Tax Assessment Act 1997, ITAA 1936, and the GST Act.

    ITAA 1997 Section 6-5 – Income According to Ordinary Concepts (Ordinary Income)

    Legislation

    Section 6-5 is the foundational provision that includes ordinary income in a taxpayer's assessable income. It provides that assessable income includes income according to ordinary concepts, and establishes the rules for when such income is derived by residents and non-residents.

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