Income Tax Assessment Act 1997
View history note
Hide history noteIf you have above-average special professional income, the Income Tax Rates Act 1986 generally sets a special rate so that the amount of income tax you pay on the top 4/5 of your above-average special professional income is effectively 4 times what you would pay on the bottom 1/ 5 of that income at basic rates.
Note:
Your overall income tax will be less only if 2 marginal rates of income tax would apply to your above-average special professional income if it were treated as the top slice of your taxable income.
405-5(2)
The following diagram illustrates how the special rate works.
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