Section CW 55BB — Income Tax Act 2007: Minors' income, to limited extent

CW 55BB Minors' income, to limited extent When this section applies (1) This section applies for a tax year to a person, other than an absentee, when the person is— (a) younger than 15: (b) younger than 18, and attends— (i) a private primary school, state primary school, private secondary school, or state secondary school, in each case as defined in the Education Act 1964 : (ii) an integrated school as defined in section 2 of the Private Schools Conditional Integration Act 1975: (iii) a school providing special education as defined in the Education Act 1964 and the Education Act 1989 : (c) younger than 19, and— (i) was a person to whom paragraph (b) applied during the previous tax year; and (ii) turned 18 on or after 1 January in that previous tax year; and (iii) continues to attend a school of a kind referred to in paragraph (b). Exempt income—if less than limit (2) An amount of income derived by the person in the tax year is exempt income if— (a) the income is none of— (i) a PAYE income payment: (ii) resident passive income: (iii) non-resident passive income: (iv) excluded income: (v) exempt income under another provision; and (b) the person derives in the tax year a total amount of income meeting the requirements of paragraph (a) that is less than $2,340. Defined in this Act: absentee , excluded income , exempt income , income , non-resident passive income , PAYE income payment , resident passive income , tax year Section CW 55BB: inserted, on 29 May 2012 (applying for the 2012–13 and later tax years), by section 4(1) of the Taxation (Budget Measures) Act 2012 (2012 No 38).