Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 392 - Long-term averaging of primary producers ' tax liability  

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Subdivision 392-C - How big is your averaging adjustment?  

Guide to Subdivision 392-C

SECTION 392-60   What this Subdivision is about  

This Subdivision explains how to work out the amount of the averaging adjustment of your income tax for the current year (whether it is a tax offset or is used by the Income Tax Rates Act 1986 to set the rate at which you must pay extra income tax).

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TABLE OF SECTIONS
TABLE OF SECTIONS
392-65 What your averaging adjustment reflects
Your gross averaging amount
392-70 Working out your gross averaging amount
Your averaging adjustment
392-75 Working out your averaging adjustment
How to work out your averaging component
392-80 Work out your taxable primary production income
392-85 Work out your taxable non-primary production income
392-90 Work out your averaging component

 

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