INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteA reference in this section to the first year of income in relation to a taxpayer is a reference to the first year of income in which:
(a) the taxpayer was, or is, a qualifying resident taxpayer; and
(b) the eligible taxable income of the taxpayer exceeded $2,500. 158K(2) [Non-resident immediately before first year of income]
For the purposes of this section, where a taxpayer was not a resident at any time during the year of income immediately before the first year of income, the taxpayer shall be taken to be an original non-resident taxpayer.
158K(3) [Taxpayer other than original non-resident taxpayer]A reference in this Division to the average eligible taxable income of a year of income of a taxpayer other than an original non-resident taxpayer is a reference to:
(a) for the first year of income - nil;
(b) for the year of income (in this subsection called the ``second year of income'') next succeeding the first year of income - one-third of the amount of the eligible taxable income of the taxpayer of the first year of income;
(c) for the year of income (in this subsection called the ``third year of income'') next succeeding the second year of income - one-quarter of the sum of the amounts of the eligible taxable income of the taxpayer of the first and second years of income;
(d) for the year of income next succeeding the third year of income - one-quarter of the sum of the amounts of the eligible taxable income of the taxpayer of the first, second and third years of income; and
(e) for any subsequent year of income (in this paragraph called the ``subsequent year of income'') - one-quarter of the sum of the amounts of the eligible taxable income of the taxpayer of each of the 4 years of income preceding the subsequent year of income. 158K(4) [Original non-resident taxpayer]
A reference in this Division to the average eligible taxable income of a year of income of a taxpayer who is an original non-resident taxpayer is a reference to:
(a) for the first year of income - the eligible taxable income of the taxpayer of the first year of income;
(b) for the year of income (in this subsection called the ``second year of income'') next succeeding the first year of income - the eligible taxable income of the taxpayer of the first year of income;
(c) for the year of income (in this subsection called the ``third year of income'') next succeeding the second year of income - one-half of the sum of the amounts of the eligible taxable income of the taxpayer of the first and second years of income;
(d) for the year of income next succeeding the third year of income - one-third of the sum of the amounts of the eligible taxable income of the taxpayer of the first, second and third years of income; and
(e) for any subsequent year of income (in this paragraph called the ``subsequent year of income'') - one-quarter of the sum of the amounts of the eligible taxable income of the taxpayer of each of the 4 years of income preceding the subsequent year of income.
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