Commonwealth Numbered Acts

INCOME TAX (INDIVIDUALS) ACT 1976 No. 58 of 1976 - SECT 5

5. (1) Income tax is imposed in accordance with this Act and at the rates
declared by the Income Tax (Rates) Act 1976.

(2) This Act does not impose tax payable by-

   (a)  a company (other than a company in the capacity of a trustee); or

   (b)  a person in the capacity of a trustee of a superannuation fund.

(3) This Act does not impose tax payable in accordance with section 128B of
the Assessment Act.

(4) This Act does not impose tax (other than further tax payable in pursuance
of sub-section 94 (9), (11) or (12) of the Assessment Act)-

   (a)  upon-

        (i)    a taxable income derived by a person; or

        (ii)   the net income of a trust estate in respect of which the
               trustee is liable to be assessed and to pay tax under section
               98 of the Assessment Act,

where that income does not exceed $1,040; or

   (b)  upon the net income of a trust estate in respect of which the trustee
        is liable to be assessed and to pay tax under section 99 of the
        Assessment Act, where that income does not exceed $416.