Income Tax Rates Act 1986

Pt IV repealed by No 47 of 2018, s 3 and Sch 2 item 13, effective 1 July 2018. No 47 of 2018, s 3 and Sch 2 item 14 contains the following provision:

14 Repealed law continues for relevant years of income  
14
Despite the repeal of Part IV of the Income Tax Rates Act 1986 by this Part, that Part continues to apply, in relation to assessments for a temporary budget repair levy year, as if that repeal had not happened.

Note:

The temporary budget repair levy years are the years of income corresponding to the 2014-15, 2015-16 and 2016-17 financial years (see former section 32 of the Income Tax Rates Act 1986 ).

Pt IV inserted by No 45 of 2014, s 3 and Sch 1 item 1, effective 25 June 2014.

S 36 repealed by No 47 of 2018, s 3 and Sch 2 item 13, effective 1 July 2018. See note under Pt IV heading. S 36 formerly read:

SECTION 36 RATE WHERE DIVISION 6AA OF PART III OF THE ASSESSMENT ACT APPLIES  
36(1)
This section applies in respect of the following amounts:

(a) so much of the eligible taxable income of a resident taxpayer who is a prescribed person for the purposes of Division 6AA of Part III of the Assessment Act as exceeds $416 but does not exceed $180,000;

(b) so much of the eligible taxable income of a non-resident taxpayer who is a prescribed person for the purposes of that Division as does not exceed $180,000;

(c) so much of a share of the net income of a trust estate in respect of which the trustee is liable to be assessed and to pay tax as:

(i) is a share to which that Division applies; and

(ii) does not exceed $180,000.

36(2)
Increase by 2 percentage points the rate of tax that would, apart from this section, apply to the amount.

S 36 inserted by No 45 of 2014, s 3 and Sch 1 item 1, effective 25 June 2014.