INCOME TAX RATES ACT 1986 (ARCHIVE)

PART II - RATES OF INCOME TAX PAYABLE UPON INCOMES OTHER THAN INCOMES OF COMPANIES, PRESCRIBED UNIT TRUSTS, SUPERANNUATION FUNDS AND CERTAIN OTHER TRUSTS  

Division 3 - Rates of Tax  

Subdivision B - Rates of Tax and Notional Rates  

SECTION 12 (ARCHIVE)   RATES OF TAX AND NOTIONAL RATES  

CCH Note:

Below is material repealed as inoperative in s 12 by No 101 of 2006.

12(5)   [Notional income]  

Subject to sections 13 and 15 , the rate of tax in respect of a taxable income in any case where section 59AB or 86 of the Assessment Act or the former section 42-295 of the Income Tax Assessment Act 1997 applies is as set out in Schedule 9 .

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History

S 12(5) amended by No 77 of 2001, s 3 and Sch 2 item 478, by inserting ``the former'' before ``section 42-295'', applicable to:

(a) depreciating assets:

(i) you start to hold under a contract entered into after 30 June 2001; or

(ii) you constructed where the construction started after that day; or

(iii) you start to hold in some other way after that day; and

(b) expenditure that does not form part of the cost of a depreciating asset incurred after that day.

S 12(5) amended by No 121 of 1997 and No 138 of 1987.

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