Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-10 - PAY AS YOU GO (PAYG) INSTALMENTS  

Division 45 - Instalment payments  

Subdivision 45-P - Anti-avoidance rules  

SECTION 45-630   WHEN DO YOU GET A TAX DETRIMENT FROM A SCHEME?  

45-630(1)    
This section describes how to work out whether you get a tax detriment from a *scheme and, if so, the amount of the tax detriment.

45-630(2)    
First, determine your actual *tax position for an income year (apart from this Subdivision).

45-630(3)    
Next, determine your *hypothetical tax position for the same income year (apart from this Subdivision).

45-630(4)    
Then compare each *component of the 2 positions. If the amount of that component of the actual *tax position is higher than the amount of that component of the *hypothetical tax position, the difference between the 2 amounts is a tax detriment that you get from the *scheme.

Example:

In the fact situation in the example in section 45-610 , X Pty Ltd gets a tax detriment from the scheme for the annual instalment component of its tax position for the income year.

Note 1:

The difference between the 2 amounts is not a tax detriment to the extent that it is attributable to certain things for which the income tax law expressly provides. See section 45-635 .

Note 2:

An entity may get 2 or more tax detriments from the same scheme. One reason is that the scheme may affect 2 or more components of the entity ' s tax position for an income year. Another reason is that the scheme may affect the tax position for 2 or more income years.