Income Tax Rates Act 1986

Schedules

SCHEDULE 10 - RATES OF TAX PAYABLE BY A TRUSTEE UNDER SECTION 98 OR 99 OF THE ASSESSMENT ACT

Subsection 12(6)

PART I - RESIDENT BENEFICIARIES AND RESIDENT TRUST ESTATES

SECTION 2.

2.
In the case of a trustee who is liable to be assessed and to pay tax under section 99 of the Assessment Act in respect of the net income or part of the net income of a resident trust estate, other than income to which clause 1 applies, the rate of tax is the rate that would be payable under Part I of Schedule 7 in respect of a taxable income equal to that net income or that part of the net income if -

(a) one individual were liable to be assessed and to pay tax on that income; and

(b) the words " exceeds the tax-free threshold but " were omitted from item 1 of the table applicable to the year of income in Part I of Schedule 7 .

View history reference

View history note

History

Part I cl 2 amended by No 47 of 2018, s 3 and Sch 2 item 16, by substituting para (b), effective 1 July 2018. Para (b) formerly read:

(b) the reference in item 1 of the table in Part I of Schedule 7 to the part of the ordinary taxable income that exceeds the tax-free threshold but does not exceed $37,000 were a reference to the part of the ordinary taxable income that does not exceed $37,000.

Part I cl 2 amended by No 150 of 2011, s 3 and Sch 1 item 5, by substituting " the tax-free threshold " for " $6,000 " in para (b), applicable to the 2012-13 year of income and later years of income.

Part I cl 2 amended by No 29 of 2008, s 3 and Sch 1 item 26, by substituting " $37,000 " for " $35,000 " (wherever occurring), applicable to assessments for the 2010-11 year of income and later years of income.

Part I cl 2 amended by No 29 of 2008 , s 3 and Sch 1 item 16, by substituting " $35,000 " for " $34,000 " (wherever occurring) in para (b), applicable to assessments for the 2009-10 year of income.

Part I cl 2 amended by No 29 of 2008 , s 3 and Sch 1 item 6, by substituting " $34,000 " for " $30,000 " (wherever occurring) in para (b), applicable to assessments for the 2008-09 year of income.

Part I cl 2 amended by No 76 of 2007, s 3 and Sch 1 item 7, by substituting " $30,000 " for " $25,000 " (wherever occurring), applicable to assessments for the 2007-08 year of income and later years of income.

Part I amended by No 101 of 2006 , s 3 and Sch 2 item 783, by omitting references to a repealed inoperative provision, effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

Part I cl 2 amended by No 55 of 2006 , s 3 and Sch 1 item 23, by substituting " $25,000 " for " $21,600 " in para (b) (wherever occurring), applicable to assessments for the 2006-2007 year of income and later years of income.

Part I cl 2 amended by No 58 of 2006 , s 3 and Sch 7 item 118, by substituting " item 1 " for " column 1 " in para (b), applicable to assessments for the 2003-04 income year and later income years.

Part I cl 2 amended by No 45 of 2003, s 3 and Sch 1 item 7, by substituting " $21,600 " for " $20,000 " (wherever occurring) in para (b), applicable to assessments for the 2003/2004 income year and later income years.

Part I cl 2 amended by No 69 of 1999 and No 7 of 1993.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.