Tax Laws Amendment (2007 Measures No. 3) Act 2007 (79 of 2007)

Schedule 9   Non-resident trustee beneficiaries

Income Tax Rates Act 1986

29   Section 28

Repeal the section, substitute:

28 Rates of tax payable by certain trustees to whom section 98 of the Assessment Act applies

The rates of tax payable by a trustee of a trust estate in respect of a share of the net income of the trust estate in respect of which the trustee is liable to be assessed and to pay tax are:

(a) if paragraph 98(3)(b) of the Assessment Act applies - the rate specified in subsection 23(2) (about companies); and

(b) if subsection 98(4) of the Assessment Act applies - the maximum rate specified in column 3 of the table in Part II of Schedule 7 to this Act that applies for the year of income.

Note: If paragraph 98(3)(a) of the Assessment Act applies, see subsection 12(6).