Schedules
SCHEDULE 7
-
GENERAL RATES OF TAX
Subsection
12(1)
History
Sch 7 heading amended by No 70 of 1989.
PART II
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NON-RESIDENT TAXPAYERS
SECTION 4.
4.
If the non-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 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.
History
Part II cl 4 amended by No 47 of 2018, s 3 and Sch 2 items 6 and 7, by inserting
"
applicable to the year of income
"
in para (a) and repealing the example, effective 1 July 2018. The example formerly read:
Example:
Rosie earns a $60,000 salary while a working holiday maker from 1 July 2017 to 31 March 2018. She also earns $29,000 while holding a different class of visa from 1 April 2018 to 30 June 2018.
The $60,000 salary is Rosie
'
s working holiday taxable income and is the first part of her ordinary taxable income. Under Part III, she pays tax at the rate of 15% on $37,000 of that salary, and tax at the rate of 32.5% on the remaining $23,000 of that salary.
The $29,000 income makes up the remaining parts of Rosie
'
s ordinary taxable income. Under clause 1 of this Part, she pays tax at the rate of 32.5% on $27,000 of that income, and tax at the rate of 37% on the remaining $2,000 of that income.
Part II cl 4 inserted by No 92 of 2016, s 3 and Sch 1 item 6, applicable in relation to:
(a) assessable income derived on or after 1 January 2017; and
(b) so much of any amounts that can be deducted as relate to such assessable income.
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