Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where the taxable income of a person does not exceed the threshold amount, no levy is payable by the person upon that taxable income.
(2) Where the taxable income of a person exceeds the threshold amount but does not exceed the phase - in limit, the amount of levy payable by the person upon that taxable income but for sections 8 and 9 shall not exceed 10% of the amount of the excess.
(3) Where the net income of a trust estate or a part of that net income, being income in respect of which a person in the capacity of a trustee of a trust estate is liable to be assessed pursuant to section 99 of the Assessment Act, does not exceed $416, no levy is payable by the person upon that net income or part, as the case may be.
(4) Where the net income of a trust estate or a part of that net income, being income in respect of which a person in the capacity of a trustee of a trust estate is liable to be assessed and pay tax pursuant to section 99 of the Assessment Act, exceeds $416 but does not exceed $520, the amount of levy payable by the person upon that net income shall not exceed 10% of the amount of the excess.