Document ID: chunk:federal_register_of_legislation:C2025C00013:section:7
Version: federal_register_of_legislation:C2025C00013
Segment Type: section
Provision Reference: s 7
Character Range: 9588–10750

7  Levy in cases of small incomes
 (1) Where the taxable income of a person does not exceed the threshold amount, no levy is payable by the person upon that taxable income.
 (2) Where the taxable income of a person exceeds the threshold amount but does not exceed the phase‑in limit, the amount of levy payable by the person upon that taxable income but for sections 8 and 9 shall not exceed 10% of the amount of the excess.
 (3) Where the net income of a trust estate or a part of that net income, being income in respect of which a person in the capacity of a trustee of a trust estate is liable to be assessed pursuant to section 99 of the Assessment Act, does not exceed $416, no levy is payable by the person upon that net income or part, as the case may be.
 (4) Where the net income of a trust estate or a part of that net income, being income in respect of which a person in the capacity of a trustee of a trust estate is liable to be assessed and pay tax pursuant to section 99 of the Assessment Act, exceeds $416 but does not exceed $520, the amount of levy payable by the person upon that net income shall not exceed 10% of the amount of the excess.