Where to start with an Australian legal problem: plain-English guides, with the legislation and case law behind them.

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Where to start with an Australian legal problem: plain-English guides, with the legislation and case law behind them.

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Section 7 - Income Tax Assessment (1997 Act) Regulations 2021 - New entrant rate to be rounded down | Zoe

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Income Tax Assessment (1997 Act) Regulations 2021

7New entrant rate to be rounded down

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Turn the raw legal text into a practical explanation grounded in Income Tax Assessment (1997 Act) Regulations 2021.

The new entrant rate is to be rounded down to the lower 1 percentage point.

Note: Example: 10.6% would be rounded down to 10%.

Previous section6New entrant rate to be based on period of membership needed to reach maximum benefit accrual

Next section8No allowance for administration expenses or income tax on assessable contributions