Income Tax Rates Act 1986

PART III - RATES OF INCOME TAX PAYABLE UPON INCOMES OF COMPANIES, PRESCRIBED UNIT TRUSTS, SUPERANNUATION FUNDS, CERTAIN OTHER TRUSTS AND SOVEREIGN ENTITIES  

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History

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.

SECTION 28A  

28A   RATES OF TAX PAYABLE BY TRUSTEES OF AMITs UNDER PARAGRAPH 276-105(2)(b) or (c) OF THE INCOME TAX ASSESSMENT ACT 1997  

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The rates of tax payable by a trustee of an AMIT under paragraph 276-105(2)(b) or (c) of the Income Tax Assessment Act 1997 are:

(a) if paragraph 276-105(2)(b) of the Income Tax Assessment Act 1997 applies - the rate specified in paragraph 23(2)(b) of this Act; and

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(b) if paragraph 276-105(2)(c) of that Act applies - the maximum rate specified in column 3 of the table applicable to the year of income in Part II of Schedule 7 to this Act that applies for the year of income.

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Note:

If paragraph 276-105(2)(a) of the Income Tax Assessment Act 1997 applies, see subsection 12(6A) .

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History

S 28A amended by No 47 of 2018, s 3 and Sch 2 item 12, by inserting " applicable to the year of income " in para (b), effective 1 July 2018.

S 28A amended by No 41 of 2017, s 3 and Sch 1 item 15, by substituting " the rate specified in paragraph 23(2)(b) of this Act " for " the rate specified in paragraph 23(2)(b) (about companies other than small business entities) " in para (a), effective 1 July 2017 and applicable to the 2017-18 year of income and later years of income.

S 28A inserted by No 49 of 2016, s 3 and Sch 1 item 12, effective 5 May 2016.

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