Income Tax Rates Act 1986

Schedules

SCHEDULE 7 - GENERAL RATES OF TAX  

Subsection 12(1)


PART I - RESIDENT TAXPAYERS  

SECTION 4.  

4.    


If the resident taxpayer is a working holiday maker at any time during the year of income:

(a)    

count the taxpayer ' s working holiday taxable income for the year of income as the first parts (starting from $0) of the taxpayer ' s ordinary taxable income for the purposes of the table in clause 1 that is applicable to the year of income; and

(b)    do not apply the rates in that table to that working holiday taxable income; and

(c)    do not count that working holiday taxable income when working out the taxpayer ' s taxable income for the purposes of clause 2 or 3.

Note:

The rates for the taxpayer ' s working holiday taxable income for the year of income are set out in Part III.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.