Document ID: chunk:federal_register_of_legislation:C2024C00381:section:13:p1
Version: federal_register_of_legislation:C2024C00381
Segment Type: section
Provision Reference: s 13 (pt 1/4)
Character Range: 24371–26734

13  Rates of tax where Division 6AA of Part III of the Assessment Act applies
 (1) The rates of tax in respect of the taxable income of a resident taxpayer:
 (a) who is a prescribed person in relation to the year of income for the purposes of Division 6AA of Part III of the Assessment Act; and
 (b) who has, for the purposes of that Division, an eligible taxable income of an amount exceeding $416;
are as set out in Part I of Schedule 11.
 (2) Where the eligible taxable income of a resident taxpayer for the purposes of Division 6AA of Part III of the Assessment Act exceeds $416 but does not exceed the resident phase‑out limit, the amount of tax payable under subsection (1) in respect of that eligible taxable income shall not exceed:
 (a) 66% of the amount by which that eligible taxable income exceeds $416; or
 (b) the amount ascertained by deducting from the amount of tax that would be payable by the taxpayer if the rates set out in Part I of Schedule 7 were applied to the taxable income of the taxpayer the amount of tax that would be payable by the taxpayer if those rates were applied to the taxable income of the taxpayer reduced by the amount of that eligible taxable income;
whichever is the greater.
 (3) Where:
 (a) a trustee of a trust estate is liable to be assessed and to pay tax under section 98 of the Assessment Act in respect of the share of a resident beneficiary of the net income of the trust estate;
 (b) Division 6AA of Part III of the Assessment Act applies to a part of that share; and
 (c) the part of that share to which that Division applies exceeds $416;
the rates of tax payable by the trustee in respect of that share of the net income of the trust estate are as set out in Part I of Schedule 12.
 (4) Where:
 (a) a trustee of a trust estate is liable to be assessed and to pay tax under section 98 of the Assessment Act in respect of the share of a resident beneficiary of the net income of the trust estate;
 (b) Division 6AA of Part III of the Assessment Act applies to a part of that share;
 (c) the part of that share to which that Division applies does not exceed $416;
 (d) Division 6AA of Part III of the Assessment Act also applies to a part of the share of the beneficiary of the net income of another trust estate or to parts of the shares of the beneficiary of the net incomes of other trust estates; and
 (e)