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

                   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



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