INCOME TAX RATES ACT 1986
The rates of tax payable by a trustee of a trust estate in respect of a share of the net income of the trust estate in respect of which the trustee is liable to be assessed and to pay tax are:
(a) if paragraph 98(3)(b) of the Assessment Act (about beneficiaries that are companies) applies:
(i) if the beneficiary is a company to which paragraph 23(2)(a) of this Act applies - the rate specified in paragraph 23(2)(a) ; or
(ii) otherwise - the rate specified in paragraph 23(2)(b) ; and
(b) if subsection 98(4) of the Assessment Act applies - the maximum rate specified in column 3 of the table applicable to the year of income in Part II of Schedule 7 to this Act that applies for the year of income.
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