Income Tax Rates Act 1986

Pt III heading amended by No 36 of 2019, s 3 and Sch 1 item 2, by substituting " , certain other trusts and sovereign entities " for " and certain other trusts " , effective 1 July 2019.

S 24 repealed by No 53 of 2016, s 3 and Sch 5 item 70, applicable to assessments for income years starting on or after 1 July 2016. For transitional provision, see note under definition of " prescribed unit trust " . S 24 formerly read:

SECTION 24 RATE OF TAX PAYABLE BY TRUSTEES OF CORPORATE UNIT TRUSTS  
24
The rate of tax payable by a trustee of a corporate unit trust in respect of the net income of the corporate unit trust in respect of which the trustee is liable, under section 102K of the Assessment Act, to be assessed and to pay tax is:

(a) if the trust is a small business entity for a year of income - 28.5%; or

(b) otherwise - 30%.

S 24 substituted by No 66 of 2015, s 3 and Sch 1 item 3, applicable to assessments for years of income starting on or after 1 July 2015. S 24 formerly read:

SECTION 24 RATE OF TAX PAYABLE BY TRUSTEES OF CORPORATE UNIT TRUSTS  
24
The rate of tax payable by a trustee of a corporate unit trust in respect of the net income of the corporate unit trust in respect of which the trustee is liable, under section 102K of the Assessment Act, to be assessed and to pay tax is 30%.

S 24 amended by No 167 of 1999, No 90 of 1995, No 18 of 1993, No 118 of 1988 and No 60 of 1987.