Document ID: chunk:federal_register_of_legislation:C2024C00381:section:15:p1
Version: federal_register_of_legislation:C2024C00381
Segment Type: section
Provision Reference: s 15 (pt 1/4)
Character Range: 33274–35748

15  Rates of tax where Division 6AA of Part III of the Assessment Act applies
 (1) The rates of tax in respect of the taxable income of a non‑resident taxpayer:
 (a) who is a prescribed person in relation to the year of income for the purposes of Division 6AA of Part III of the Assessment Act; and
 (b) who has, for the purposes of that Division, an eligible taxable income;
are as set out in Part II of Schedule 11.
 (2) Where the eligible taxable income of a non‑resident taxpayer for the purposes of Division 6AA of Part III of the Assessment Act:
 (a) does not exceed $416—the amount of tax payable under subsection (1) in respect of that eligible taxable income shall not exceed:
 (i) the amount ascertained by applying the second resident personal tax rate to that eligible taxable income; or
 (ii) the amount ascertained by deducting from the amount of tax that would be payable by the taxpayer if the rates set out in Part II of Schedule 7 were applied to the taxable income of the taxpayer the amount of tax that would be payable by the taxpayer if those rates were applied to the taxable income of the taxpayer reduced by the amount of that eligible taxable income;
  whichever is the greater; or
 (b) exceeds $416 but does not exceed the non‑resident phase‑out limit—the amount of tax payable under subsection (1) in respect of that eligible taxable income shall not exceed:
 (i) the amount ascertained by applying the second resident personal tax rate to $416, and then adding 66% of the amount by which that eligible taxable income exceeds $416; or
 (ii) the amount ascertained by deducting from the amount of tax that would be payable by the taxpayer if the rates set out in Part II of Schedule 7 were applied to the taxable income of the taxpayer the amount of tax that would be payable by the taxpayer if those rates were applied to the taxable income of the taxpayer reduced by the amount of that eligible taxable income;
  whichever is the greater.
 (3) Where:
 (a) a trustee of a trust estate is liable to be assessed and to pay tax under section 98 of the Assessment Act in respect of the share of a non‑resident beneficiary of the net income of the trust estate; and
 (b) Division 6AA of Part III of the Assessment Act applies to a part of that share;
the rates of tax payable by the trustee in respect of that share of the net income of the trust estate are as set out in Part II of Schedule 12.
 (4) Subject to subsection (5), where:
 (a) the trustee