this is because income for those that account on a cash basis is derived (assessable) when the income is received by them (rather than by when paid by another)
for example, income received that is paid by cheque is assessable (derived) when the cheque is received rather than when the cheque is dated
very basic principle
http://sites.thomsonreuters.com.au/tainsight/2009/03/06/when-is-income-derived/
late applications, page-10
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