How Commissioner works out benchmark instalment rate
45-530 How Commissioner works out benchmark instalment rate
Your benchmark instalment rate for the variation year is the percentage worked out to 2 decimal places (rounding up if the third decimal place is 5 or more) using the formula:
Start formula start fraction Your *benchmark tax over Variation year instalment income end fraction times 100 end formula
However, your benchmark instalment rate is a nil rate if either component of the formula is nil.
For the purposes of the formula in subsection (1):
variation year instalment income means so much of the trust’s assessable income for the variation year as the Commissioner determines is *instalment income for that year.
This Act’s bill:Second reading speech
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