Document ID: chunk:federal_register_of_legislation:C2004A05083:schedule:1:p4
Version: federal_register_of_legislation:C2004A05083
Segment Type: schedule
Provision Reference: sch 1 (pt 4/18)
Character Range: 9344–12169

a rebatable pension within the meaning of section 160AAA of the Assessment Act;

          (c) a non-subsidised payment by the Commonwealth of an allowance or reimbursement to, or to a person on behalf of, a participant in a Commonwealth labour market program;

          (d) a non-subsidised payment by the Commonwealth of an allowance or reimbursement to, or to a person on behalf of, a student under a scheme of assistance to students, other than a payment:

        (i) by way of a scholarship or bursary; or

           (ii) made on the condition that the student, or the person receiving the payment on behalf of the student, will (if required) render services to the Commonwealth.

      non-subsidised payment means a payment made to a person who is not an employee, or receives the payment on behalf of another person who is not an employee, of someone who is entitled to a Commonwealth subsidy in respect of the employment.

20E Where adjusted tax-free threshold exceeds $20,700

      (1) If the adjusted tax-free threshold of a taxpayer to whom, apart from this subsection, section 20C or 20D would apply exceeds $20,700, those sections do not apply to the taxpayer but the following provisions of this section have effect.

      (2) The table in clause 1 of Part 1 of Schedule 7 is taken, for the purposes of the application of that clause to the taxpayer, to be replaced by the following table:

Column 1                                                             Column 2
Parts of ordinary taxable income of taxpayer                         % rate
The part of the ordinary taxable income that:
exceeds $20,700 but does not exceed the adjusted tax-free threshold  14%
exceeds the adjusted tax-free threshold but does not exceed $38,000  34%
exceeds $38,000 but does not exceed $50,000                          43%
exceeds $50,000                                                      47%

      (3) In this section:

      adjusted tax-free threshold means the amount worked out using the formula:

      $5,400 + Tax - free threshold increase

      tax-free threshold increase means the sum of the amounts by which, subject to this Division, the amount of $5,400 set out in column 1 of the table in clause 1 of Part 1 of Schedule 7 would be taken to be increased in relation to the taxpayer in respect of the year of income under sections 20C and 20D if those sections applied to the taxpayer.

20F Where taxable income includes special income or capital gains component

      (1) If the taxable income of a year of income of a taxpayer to whom section 20C or 20D applies, or would apart from section 20E apply, consists of or includes a special income component, sections 20C, 20D and 20E do not apply, but the rate of tax for every $1 of the taxable income, as worked out under clause 2 or 3 of Part