Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 4.25

                   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