Income Tax Assessment (1997 Act) Regulations 2021

SCHEDULES

SCHEDULE 1AA  

Note: See subsection 293-115.20(2) .

WORKING OUT DEFINED BENEFIT CONTRIBUTIONS

PART 2 - NEW ENTRANT RATE  

8  

8   No allowance for administration expenses or income tax on assessable contributions  
The new entrant rate is to be calculated ignoring:

(a)    administration expenses; and

(b)    income tax on assessable contributions.

Note:

These items are allowed for in the formula in subclause 4(3) by multiplying by 1.2.