Rates of tax

Particular provisions apply to the rates at which income tax is charged on ‘savings income’ and ‘dividend income’.

SAIM1090 explains the rules for determining what part of a person's income these tax rates apply to.

Savings income

For the purposes of the tax rates which apply to income, ‘savings income’ is defined in ITA07/S18 as:

interest chargeable under ITTOIA05 Chapter 2 Part 4 (SAIM2000)

profits from deeply discounted securities chargeable under ITTOIA05 Chapter 8 Part 4 (SAIM3000)

income taxed under the Accrued Income Scheme (SAIM4000).

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