Income Tax Rates Act 1986

Div 3 heading substituted by No 70 of 1989.

S 12B repealed by No 92 of 2020, s 3 and Sch 5 item 40, effective 1 January 2021 and applicable in relation to assessments for income years commencing on or after 1 July 2021. S 12B formerly read:

SECTION 12B RATE OF EXTRA INCOME TAX FOR RECOUPMENTS FOR R & D ACTIVITIES  
12B
The rate of extra income tax payable by a taxpayer under Subdivision 355-G (about government R & D recoupments) of the Income Tax Assessment Act 1997 for a year of income is 10%.

S 12B inserted by No 92 of 2011, s 3 and Sch 1 item 2, applicable to assessments for years of income commencing on or after 1 July 2011.