Document ID: chunk:federal_register_of_legislation:C2019C00219:section:4:p1
Version: federal_register_of_legislation:C2019C00219
Segment Type: section
Provision Reference: s 4 (pt 1/2)
Character Range: 3319–6222

4  Rate of tax
 (1) The rate of income tax imposed by this Act is:
 (a) if the entity is a resident of an information exchange country:
 (i) 15% for fund payments (except to the extent mentioned in subparagraph (ii) or (iii)); or
 (ii) 10% for fund payments, to the extent that they are, or are attributable to, fund payments from a clean building managed investment trust (except to the extent mentioned in subparagraph (iii)); or
 (iii) 30% for fund payments, to the extent that they are attributable to non‑concessional MIT income; or
 (b) otherwise—30%.
 (3) An entity is a resident of an information exchange country if:
 (a) the entity is a resident of that country for the purposes of the taxation laws of that country; or
 (b) if there are no taxation laws of that country applicable to the entity or the entity's residency status cannot be determined under those laws:
 (i) for an individual—the individual is ordinarily resident in that country; or
 (ii) for another entity—the entity is incorporated or formed in that country and is carrying on a business in that country.

Endnotes

Endnote 1—About the endnotes
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Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history

Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes
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Misdescribed amendments
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