Document ID: chunk:federal_register_of_legislation:C2024C00866:section:46va:p2
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 46VA (pt 2/2)
Character Range: 691658–692205

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.