Income Tax Act 2007 section 1016

Table of provisions to which this section applies

Section 1016 identifies which specific income tax provisions are covered when the Income Tax Acts refer to "any provision to which this section applies", and sets out important limitations on the scope of those references.

• A comprehensive table lists the relevant provisions, drawn from ITTOIA 2005, ITA 2007, ICTA, and other legislation, covering items such as post-cessation receipts, interest, life insurance gains, intellectual property royalties, transfers of assets abroad, and accrued income profits.
• References to ITTOIA 2005 provisions in the table do not extend to relevant foreign income, and the interest chapter applies only in limited funding bond scenarios where retention of bonds is impracticable.
• The life insurance gains chapter applies only to gains from specific policies or contracts that do not qualify for EEA insurer relief or top-slicing relief, and the intellectual property and telecommunications chapters exclude annual payments.
• The transfer of assets abroad provisions (sections 720 and 727) are excluded to the extent they relate to income falling within section 745(3).