Income Tax Assessment Act 1936
Subject to subsection 160AAA(4) , a taxpayer who is an individual (other than in the capacity as trustee) is entitled to a rebate of tax in the taxpayer ' s assessment in respect of income of a year of income of an amount (if any), ascertained in accordance with the regulations, if the taxpayer satisfies the conditions in subsections (2) and (3) .
View history note
Hide history note160AAAA(2)
The first condition is that: (a) on at least one day during the year of income, the taxpayer:
(i) is eligible for a pension, allowance or benefit under the Veterans ' Entitlements Act 1986 (other than Part VII ); and
(ii) has reached pension age, within the meaning of that Act; and
(b) on at least one day during the year of income, the taxpayer:
(iii) is not in gaol; or
(i) is qualified for an age pension under the Social Security Act 1991 ; and
(c) the assessable income of the taxpayer of the year of income includes an amount of:
(ii) is not in gaol; or
(i) social security pension or education entry payment (within the meaning of the Social Security Act 1991 ); or
and, on at least one day during the year of income, the taxpayer is not in gaol.
(ii) service pension, carer service pension or income support supplement under the Veterans ' Entitlements Act 1986 ;
[
CCH Note:
S 160AAAA(2) will be amended by No 17 of 2025, s 3 and Sch 8 item 34, by omitting
"
(other than Part VII)
"
from para (a)(i), effective 1 July 2026. No 17 of 2025, s 3 and Sch 8 item 37 contains the following saving provision:
37 Saving provision
]
Section
160AAAA
of the
Income Tax Assessment Act 1936
as in force immediately before the day this item commences, continues to apply, on and after that day, in relation to a year of income in which the taxpayer is eligible for a pension, allowance or benefit under Part VII of the
Veterans
'
Entitlements Act 1986
.
160AAAA(3)
The second condition is that the taxpayer ' s rebate income for the year of income is less than an amount ascertained in accordance with the regulations.
160AAAA(4)
If the taxpayer is the spouse of another person, the amount applicable to the taxpayer under subsection (3) is half of the sum of: (a) the taxpayer ' s rebate income for the year of income; and (b) the taxpayer ' s spouse ' s rebate income for the year of income (reduced by any amount included in the spouse ' s assessable income under section 100 ); and (c) an amount in respect of which a trustee of a trust estate is liable to be assessed (and pay tax) under section 98 in respect of the taxpayer ' s spouse.
160AAAA(5)
Regulations made for the purposes of this section may be expressed to apply in relation to a year of income any part of which occurred before the notification of the regulations.
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