Document ID: chunk:federal_register_of_legislation:C2006C00468:clause:9_46va:p2
Version: federal_register_of_legislation:C2006C00468
Segment Type: clause
Provision Reference: sch 9 cl 46VA (pt 2/2)
Character Range: 76539–77088

1 July must be reduced on a pro‑rata basis by reference to the number of days in the financial year that are on and after the commencement day.

Exception—income stream's commencement day happens in June

 (5) If:
 (a) the income stream's commencement day happens in June; and
 (b) no payment is made under the income stream for the financial year in which the commencement day happens;
subsections (2), (3) and (4) do not apply in working out the annual rate of ordinary income of the person from the income stream on a day in that financial year.