Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 4.25

                   The following provisions may increase your basic income tax liability beyond the liability worked out simply by applying the income tax rates to your taxable income:

                     (a)  Subdivision 355-G;

                     (b)  subsection 392- 35(3).

Note 1:       Subdivision 355-G increases some entities' tax liability by requiring them to pay extra income tax on government recoupments relating to R&D activities for which entitlements to tax offsets arise under Division 355.

Note 2:       Subsection 392- 35(3) increases some primary producers' tax liability by requiring them to pay extra income tax on their averaging components worked out under Subdivision 392-C.

Table of Subdivisions

             Guide to Division 5

5-A       How to work out when to pay your income tax

Guide to Division 5