Section 197

Transitional relief for the Substance-based Income Exclusion

of Finance (No. 2) Act 2023

ActIn forceProvision 71 of 223

(1)

For the purpose of applying subsection 180(4), the value of five per cent shall be replaced with the value set out in the table set out below for each Financial Year beginning in each of the following Financial Years:

Financial Year Beginning In

Subsection 180(4)

Rate 2025 9.6%

2026 9.4%

2027 9.2%

2028 9.0%

2029 8.2%

2030 7.4%

2031 6.6%

2032 5.8%

Act 851

(2)

For the purpose of applying subsection 180(5), the value of five per cent shall be replaced with the value set out in the table set out below for each Financial Year beginning in each of the following calendar years:

Financial Year Beginning In

Subsection 180(5)

Rate 2025 7.6%

2026 7.4%

2027 7.2%

2028 7.0%

2029 6.6%

2030 6.2%

2031 5.8%

2032 5.4%

Read in full context — Finance (No. 2) Act 2023 →