Income Tax Act 2007 sections 11–13

Rates at which income tax is charged

Sections 11–13 deal with the renaming of certain income tax rates from 2007-08 onwards, providing rules for reading old and new terminology consistently across legislation and other documents.

• For tax years before 2007-08, references to the "savings rate" should be read as the "lower rate", and references to the "trust rate" should be read as the "rate applicable to trusts".
• From 2007-08 onwards, references to the "lower rate" should be read as the "savings rate", and references to the "rate applicable to trusts" should be read as the "trust rate".
• These reading rules apply across all legislation, subordinate legislation, instruments, and documents.
• The term "enactment" in these provisions includes subordinate legislation as defined by the Interpretation Act 1978.