Commonwealth Numbered Acts

INCOME TAX RATES ACT 1986 No. 107 of 1986 - SCHEDULE 4

                                   SCHEDULE 4                 Sub-section 7
(6)
RATES OF TAX PAYABLE BY A TRUSTEE UNDER SECTION 98 OR 99
OF THE ASSESSMENT ACT-FINANCIAL YEAR 1986-87
PART I-RESIDENT BENEFICIARIES AND RESIDENT TRUST ESTATES
1. In the case of a trustee who is liable to be assessed and to pay tax-

   (a)  under section 98 of the Assessment Act in respect of a share of a
        resident beneficiary of the net income of a trust estate; or

   (b)  under section 99 of the Assessment Act in respect of the net income or
part of the net income of a resident trust estate, being the net income or
part of the net income of the estate of a deceased person who died less than 3
years before the end of the year of income, the rate of tax in respect of that
share of the net income or that net income or that part of that net income is
the rate that would be payable under Part I of Schedule 1 or Part I of
Schedule 3, as the case requires, if one individual were liable to be assessed
and to pay tax on that income as his or her taxable income.
2. In the case of a trustee who is liable to be assessed and to pay tax under
section 99 of the Assessment Act in respect of the net income or part of the
net income of a resident trust estate, other than income to which clause 1
applies, the rate of tax is the rate that would be payable under Part I of
Schedule 1, or Part I of Schedule 3, as the case requires, in respect of a
taxable income equal to that net income or that part of the net income if-

   (a)  one individual were liable to be assessed and to pay tax on that
        income;
and

   (b)  the reference in column 1 of the table in Part I of Schedule 1 to the
        part of the taxable income that exceeds $4,890 but does not exceed
        $12,500 were a reference to the part of the taxable income that does
        not exceed $12,500.
PART II-NON-RESIDENT BENEFICIARIES AND NON-RESIDENT TRUST
ESTATES
In the case of a trustee who is liable to be assessed and to pay tax-

   (a)  under section 98 of the Assessment Act in respect of a share of a
non-resident beneficiary of the net income of a trust estate; or

   (b)  under section 99 of the Assessment Act in respect of the net income or
        part of the net income of a non-resident trust estate, the rate of tax
        in respect of that share of the net income or that net income or that
        part of that net income is the rate that would be payable under Part
        II of Schedule 1 or Part II of Schedule 3, as the case requires, if
        one individual were liable to be assessed and to pay tax on that
        income as his or her taxable income.