Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 392-90 Work out your averaging component 392-90(1)
Work out your averaging component for the * current year using the following table, taking into account:
(a) your * taxable primary production income for the current year; and
(b) your * taxable non-primary production income for the current year.
| Averaging component | |||
| The averaging component equals: | |||
| Item | If *taxable non-primary production income: | for *taxable primary production income > 0 | for *taxable primary production income = 0 |
| 1 | is nil | *Basic taxable income | Nil |
| . | |||
| 2 | is more than nil but does not exceed $5,000 | *Basic taxable income | *Basic taxable income |
| . | |||
| 3 | exceeds $5,000 but does not exceed $10,000 | *Taxable primary production income plus *non-primary production shade-out amount | *Non-primary production shade-out amount |
| . | |||
| 4 | is $10,000 or more | *Taxable primary production income | Nil |
Note:
Subsections (2) and (3) explain how to work out your non-primary production shade-out amount if your taxable non-primary production income is between $5,000 and $10,000.
Non-primary production shade-out amount if your taxable primary production income is more than nil
392-90(2)
If your * taxable primary production income is more than nil, your non-primary production shade-out amount is the amount worked out using the formula:
| $10,000 | − | Taxable non-PP income |
Non-primary production shade-out amount if your taxable primary production income is nil
392-90(3)
If your * taxable primary production income is nil, your non-primary production shade-out amount is the amount worked out using the formula:
However, if that amount is less than nil, your non-primary production shade-out amount is nil.
392-90(4)
In this section:
Assessable PP income
means your
*
assessable primary production income for the
*
current year.
PP deductions
means your
*
primary production deductions for the
*
current year.
Taxable non-PP income
your
*
taxable non-primary production income for the
*
current year.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
