46
In forceGeneral meaning of ordinary income
Volume 2Parts IIIB to VA, sections 46 to 93ZG
Part IIIBProvisions applying to service pension, income support supplement and veteran payment
Division 1Ordinary income concept
46 General meaning of ordinary income
A reference in this Act to a person’s ordinary income for a period is a reference to the person’s gross ordinary income from all sources for the period calculated without any reduction, other than a reduction under Division 2.
Note 1:
For ordinary income see subsection 5H(1).
Note 2:
For other provisions affecting the amount of a person’s ordinary income see section 46AA (work bonus), sections 46B and 46C (business income), Division 3 (income from financial assets (including income streams (short term) and certain income streams (long term)) and Division 4 (income from income streams not covered by Division 3).
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.