Document ID: chunk:federal_register_of_legislation:F2022C01160:reg:12:p2
Version: federal_register_of_legislation:F2022C01160
Segment Type: reg
Provision Reference: reg 12 (pt 2/2)
Character Range: 21145–22138

are:
 (a) that the following is greater than $6 000:
 (i) if subparagraph (1)(a)(i) applies—the taxpayer's taxable income for the year;
 (ii) if subparagraph (1)(a)(ii) applies—the taxpayer's taxable income in relation to the individual for the year; and
 (b) that each rate of tax payable by the taxpayer is a rate set out in Part I of Schedule 7 to the Income Tax Rates Act 1986.

Certain pensions treated as assessable income
 (5) For the purposes of this section, the amount of the taxpayer's assessable income of the year is to be calculated as if a pension the taxpayer receives at any time in the year were assessable income, if:
 (a) the taxpayer receives the pension under:
 (i) Part 2.3, 2.4 or 2.5 of the Social Security Act 1991; or
 (ii) Division 4 or 5 of Part III of the Veterans' Entitlements Act 1986; and
 (b) the pension payments are exempt payments under Subdivision 52‑A or 52‑B of the Income Tax Assessment Act 1997.

Division 2—Rebate in respect of certain benefits etc.