Commonwealth Consolidated Acts

INCOME TAX RATES ACT 1986 - SECT 20

             (1)  If there are one or more part‑year residency periods in relation to a person in relation to a year of income, this Act applies in relation to the person and the year of income as if the reference in the table in Part I of Schedule 7 to $6,000 were a reference to the amount calculated in accordance with the following formula:

             (2)  Subsection (1) does not apply in calculating the tax payable by the trustee of a trust estate under section 98 of the Assessment Act in respect of a share of a beneficiary of the net income of the trust estate of a year of income but, where there are one or more part‑year residency periods in relation to the beneficiary in relation to the year of income, this Act applies in calculating the tax payable by the trustee in respect of that share as if the reference in the table in Part I of Schedule 7 to $6,000 were a reference to the amount calculated in accordance with the formula AB , where:

A    is $500;

B    is the number of months in the year of income when a part‑year residency period, or part‑year residency periods, in relation to the beneficiary in relation to the year of income subsisted.

             (3)  Subsection (1) does not apply in calculating the tax payable by the trustee of a trust estate under section 99 of the Assessment Act.