Document ID: chunk:federal_register_of_legislation:C2024C00381:clause:7_4:p2
Version: federal_register_of_legislation:C2024C00381
Segment Type: clause
Provision Reference: sch 7 cl 4 (pt 2/2)
Character Range: 57711–59288

whole dollars in the taxable income.
In applying the formula, component B is to be worked out on the assumption that the whole of the taxable income is ordinary taxable income.
 4. If the resident taxpayer is a working holiday maker at any time during the year of income:
 (a) count the taxpayer's working holiday taxable income for the year of income as the first parts (starting from $0) of the taxpayer's ordinary taxable income for the purposes of the table in clause 1 that is applicable to the year of income; and
 (b) do not apply the rates in that table to that working holiday taxable income; and
 (c) do not count that working holiday taxable income when working out the taxpayer's taxable income for the purposes of clause 2 or 3.
Note: The rates for the taxpayer's working holiday taxable income for the year of income are set out in Part III.

Part II—Non‑resident taxpayers

 1. Subject to clauses 2, 3 and 4, the rates of tax on the taxable income of a non‑resident taxpayer are as follows:
 (a) 45% for the superannuation remainder (if any) of the taxable income;
 (aa) 45% for the employment termination remainder (if any) of the taxable income;
 (b) for each part of the ordinary taxable income specified in the table applicable to the year of income—the rate applicable under that table.

Tax rates for non‑resident taxpayers for the 2024‑25 year of income or a later year of income
Item                                                                                           For the part of the ordinary taxable income of the taxpayer that:  The rate is: