The following rates apply to the income of minors (i.e., persons under 18 years of age on the last day of the income year) that is Division 6AA income:

* If a resident minor has no other taxable income, they may not have to lodge an income tax return where they earn a maximum of $2,666 Division 6AA income. This is because the maximum Low Income Tax Offset of $1,2000 in 2009 ($750 in 2008) will reduce the tax payable to nil.

¹ The above rates do not include the Medicare Levy of 1.5%.

Disclaimer: This is not advice. Items herein are general comments only and do not constitute or convey advice per se. The information contained in this article is for guidance only and should not be relied upon without obtaining professional advice having regard to your specific circumstances.