Commonwealth Consolidated Acts

INCOME TAX RATES ACT 1986 - SECT 14

             (1)  Where:

                     (a)  the trustee of a resident trust estate is liable to be assessed and to pay tax under section 99 of the Assessment Act in respect of the net income or a part of the net income of the trust estate;

                     (b)  in the case of a trust estate of a deceased person, the deceased person died not less than 3 years before the end of the year of income; and

                     (c)  that net income or that part of the net income of the trust estate does not exceed $416;

no tax is payable under subsection 12(6) in respect of that net income or that part of the net income, as the case may be.

             (2)  Where:

                     (a)  the trustee of a resident trust estate is liable to be assessed and to pay tax under section 99 of the Assessment Act in respect of the net income or a part of the net income of the trust estate;

                     (b)  in the case of a trust estate of a deceased person, the deceased person died not less than 3 years before the end of the year of income; and

                     (c)  that net income or that part of the net income of the trust estate exceeds $416 but does not exceed $594;

the amount of tax payable by the trustee under subsection 12(6) in respect of that net income or that part of the net income shall not exceed 50% of the amount by which that net income or that part of the net income, as the case may be, exceeds $416, less any rebate or credit to which the trustee is entitled.