Income Tax Rates Act 1986

S 20(1) amended by No 47 of 2018, s 3 and Sch 2 item 11, by inserting " applicable to the year of income " , effective 1 July 2018.

S 20(1) substituted by No 150 of 2011, s 3 and Sch 1 item 2, applicable to the 2012-13 year of income and later years of income. S 20(1) formerly read:

20(1)
If there are one or more part-year residency periods in relation to a person in relation to a year of income, this Act applies in relation to the person and the year of income as if the reference in the table in Part I of Schedule 7 to $6,000 were a reference to the amount calculated in accordance with the following formula:

$500

×

Number of months in the year of income during which there is a part-year residency period in relation to the person and the year of income

S 20(1) substituted by No 110 of 2006, s 3 and Sch 3 item 8, applicable to assessments for the 2006-2007 year of income and later years of income. S 20(1) formerly read:

20(1)
Subject to this section, where there are one or more partial threshold allowance months in relation to a taxpayer in relation to a year of income, this Act applies in relation to the taxpayer in relation to the year of income as if the reference in the table in Part I of Schedule 7 to $6,000 were a reference to the amount calculated in accordance with the formula

AB + C

where:

A is $500;

B is:

(e) where paragraph (f) does not apply - the number of partial threshold allowance months in relation to the taxpayer in relation to the year of income; or

(f) where there is a part-year workforce period in relation to the taxpayer in relation to the year of income - the number of partial threshold allowance months in relation to the taxpayer in relation to the year of income, not including any partial threshold allowance month occurring before the commencement of that part-year workforce period; and

C is so much of the amount of pre-workforce income (if any) derived by the taxpayer in the year of income as does not exceed the amount calculated in accordance with the formula

DE,

where:

D is the amount represented by component A ; and

E is:

(g) where there is no part-year residency period in relation to the taxpayer in relation to the year of income - the number of months in the year of income occurring before the commencement of the part-year workforce period; and

(h) in any other case - the number of months in the year of income that are included in a part-year residency period or part-year residency periods in relation to the taxpayer in relation to the year of income, not including any month that is included in the part-year workforce period.

S 20(1) amended by No 167 of 2001, No 69 of 1999, No 87 of 1990 and No 70 of 1989.

S 20(1A) inserted by No 150 of 2011, s 3 and Sch 1 item 2, applicable to the 2012-13 year of income and later years of income.

S 20(2) amended by No 47 of 2018, s 3 and Sch 2 item 11, by inserting " applicable to the year of income " , effective 1 July 2018.

S 20(2) substituted by No 150 of 2011, s 3 and Sch 1 item 2, applicable to the 2012-13 year of income and later years of income. S 20(2) formerly read:

20(2)
Subsection (1) does not apply in calculating the tax payable by the trustee of a trust estate under section 98 of the Assessment Act in respect of a share of a beneficiary of the net income of the trust estate of a year of income but, where there are one or more part-year residency periods in relation to the beneficiary in relation to the year of income, this Act applies in calculating the tax payable by the trustee in respect of that share as if the reference in the table in Part I of Schedule 7 to $6,000 were a reference to the amount calculated in accordance with the formula

AB ,

where:

A is $500;

B is the number of months in the year of income when a part-year residency period, or part-year residency periods, in relation to the beneficiary in relation to the year of income subsisted.

S 20(2) amended by No 167 of 2001, No 69 of 1999, No 87 of 1990 and No 70 of 1989.