Commentary

A1.131 Introduction to classes of income

Administration and compliance

A1.131 Introduction to classes of income

The classes of income

A1.131 Introduction to classes of income

ITA 2007, s 3(1) sets out the various classes or categories of income charged to income tax. These categories are taxed under the following parts of the Income Tax Acts:

  1.  

    (a)     employment income (ITEPA 2003, Pt 2);

  2.  

    (b)     pension income (ITEPA 2003, Pt 9);

  3.  

    (c)     social security income (ITEPA 2003, Pt 10);

  4.  

    (d)     trading income (ITTOIA 2005, Pt 2);

  5.  

    (e)     property income (ITTOIA 2005, Pt 3);

  6.  

    (f)     savings and investment income (ITTOIA 2005, Pt 4); and

  7.  

    (g)     miscellaneous income (ITTOIA 2005, Pt 5).

  8.  

    Some miscellaneous categories of income

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