INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
For the purpose of enabling the income tax that will be payable by a taxpayer to whom this section applies to be collected during the financial year for which income tax is levied, a person is liable to pay provisional tax in accordance with this Division if either of the following conditions is satisfied:
(a) the taxpayer is a section 221YAB taxpayer in relation to the year of income concerned;
(b) the taxpayer derives assessable income, not being salary or wages.
Notwithstanding subsection (1), a trustee of a trust estate is not liable to pay provisional tax in respect of income in respect of which the trustee is liable to be assessed and to pay tax under subsection 98(3) or (4) .
Provisional tax is payable in respect of the income of the year of income ending on 30 June 1966 and in respect of the income of all subsequent years of income (except the 2000-01 year of income and later income years).
(Omitted by No 108 of 1987)