INCOME TAX ASSESSMENT ACT 1936 - SECT 152 Taxpayer not in receipt of assessable income
INCOME TAX ASSESSMENT ACT 1936 - SECT 152
Taxpayer not in receipt of assessable income Any year in which the taxpayer was not carrying on business and
was not in receipt of assessable income shall not be counted as an average
year, and the provisions of this Division shall apply to the income
thereafter derived by the taxpayer as if he or she had never been a taxpayer
before that year.