Income from asset‑test exempt income stream

In force

(1)

For the purpose of working out the annual rate of ordinary income of a person from an asset‑test exempt income stream to which this Subdivision applies, the person is taken to receive from that income stream each year the amount worked out under section 1099, 1099A or 1099AAA.

Note:

For asset‑test exempt income stream see sections 9A, 9B, 9BA and 9BB.

(2)

Sections 1099 and 1099A do not apply if:

(a)

the income stream is covered by subsection 9BA(1); or

(b)

on the income stream’s commencement day, there was a reasonable likelihood that the income stream would have been covered by subsection 9BA(1), but the income stream is no longer covered by that subsection.

Note:

See section 1099AA.

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1098 Income from asset‑test exempt income stream