150ADRebate for low income aged persons and pensioners

#### 150AD Rebate for low income aged persons and pensioners Subject to regulations 150AE and 150AF, a taxpayer who, under section 160AAAA or 160AAAB of the Act, is eligible, in a year of income, for a rebate of tax is entitled, in respect of income, or trust income, of the year of income, to a rebate of tax amounting to: (a) if the relevant income‑recipient’s rebate income of the year of income does not exceed his or her rebate threshold—the taxpayer’s rebate amount; or (b) if the relevant income‑recipient’s rebate income of the year of income exceeds his or her rebate threshold—the taxpayer’s rebate amount, reduced by 12.5 cents for each $1 of the amount of the excess.