Income Tax Rates Act 1986

Pt IV repealed by No 47 of 2018, s 3 and Sch 2 item 13, effective 1 July 2018. No 47 of 2018, s 3 and Sch 2 item 14 contains the following provision:

14 Repealed law continues for relevant years of income  
14
Despite the repeal of Part IV of the Income Tax Rates Act 1986 by this Part, that Part continues to apply, in relation to assessments for a temporary budget repair levy year, as if that repeal had not happened.

Note:

The temporary budget repair levy years are the years of income corresponding to the 2014-15, 2015-16 and 2016-17 financial years (see former section 32 of the Income Tax Rates Act 1986 ).

Pt IV inserted by No 45 of 2014, s 3 and Sch 1 item 1, effective 25 June 2014.

S 35 repealed by No 47 of 2018, s 3 and Sch 2 item 13, effective 1 July 2018. See note under Pt IV heading. S 35 formerly read:

SECTION 35 TEMPORARY BUDGET REPAIR LEVY FOR OTHER INCOME TAX RATES  
References to 45%

35(1)
The provisions of this Act set out in column 1 of the table apply as if each reference in the provision to 45% was increased by 2 percentage points.

Provisions containing references to 45%
Item	Column 1 Provision	Column 2 Topic of provision
1	Subsection 12(7)	Rate for subsection 94(9) of the Assessment Act
2	Subsection 12(8)	Rate for subsections 94(11) and (12) of the Assessment Act
3	Subsection 12(9)	Rate for section 99A of the Assessment Act
3A	Subsection 12(11)	Rate for subsection 276-405(2) of the Income Tax Assessment Act 1997
3B	Subsection 12(12)	Rate for subsection 276-415(2) of the Income Tax Assessment Act 1997
3C	Subsection 12(13)	Rate for subsection 276-420(2) of the Income Tax Assessment Act 1997
4	Paragraph 26(1)(b)	Rate for superannuation funds with non-arm's length component
5	Subsection 26(2)	Rate for non-complying superannuation funds
6	Paragraph 27(1)(b)	Rate for complying ADFs with non-arm's length component
7	Subsection 27(2)	Rate for non-complying ADFs
8	Subsection 27A(b)	Rate for pooled superannuation trusts with non-arm's length component

Note:

Some provisions, such as the Schedules, are excluded from this list so as not to duplicate the operation of the levy.

 View history note

 Hide history note

History

S 35(1) amended by No 49 of 2016, s 3 and Sch 1 item 13, by inserting table items 3A, 3B and 3C, effective 5 May 2016.

References to maximum rate

35(2)
The following provisions of this Act apply as if the maximum rate specified as mentioned in the provision was increased by 2 percentage points:

(a) paragraph 28(b) (rate for subsection 98(4) of the Assessment Act);

(aa) paragraph 28A(b) (rate for paragraph 276-105(2)(c) of the Income Tax Assessment Act 1997 );

(b) paragraph 29(2)(a) (rate for no-TFN contributions income).

Note:

This subsection does not cover references to the " highest rate " in subsection 13(1) and 15(8), which are about phase-out limits.

 View history note

 Hide history note

History

S 35(2) amended by No 49 of 2016, s 3 and Sch 1 item 14, by inserting para (aa), effective 5 May 2016.

S 35 inserted by No 45 of 2014, s 3 and Sch 1 item 1, effective 25 June 2014.