Income Tax Assessment Act 1936


Division 17 - Rebates  

Subdivision AB - Lump sum payments in arrears  


159ZRA(1)   [Entitlement to rebate]  


(a) the assessable income of the taxpayer of a year of income (in this Subdivision called the ``current year'' ) includes one or more eligible lump sums; and

(b) the total arrears amount is not less than 10% of the amount (if any) remaining after deducting that total arrears amount from the normal taxable income of the current year;

the taxpayer is entitled to a rebate of tax, in the taxpayer's assessment for the current year, of the amount (if any) calculated in accordance with this Subdivision.

159ZRA(2)   [Natural person]  

The rebate is only available to a natural person (otherwise than in the capacity of a trustee).


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