Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 4.25

Special provisions for working out your basic income tax liability

                   Subsection 392‑35(3) may increase your basic income tax liability beyond the liability worked out simply by applying the income tax rates to your taxable income.

Note:          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.


 

Guide to Division 6

Table of sections

6‑1            Diagram showing relationships among concepts in this Division

Operative provisions

6‑5            Income according to ordinary concepts ( ordinary income )

6‑10          Other assessable income ( statutory income )

6‑15          What is not assessable income

6‑20          Exempt income

6‑23          Non‑assessable non‑exempt income

6‑25          Relationships among various rules about ordinary income



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