Income Tax Assessment Act 1997
View history note
Hide history noteThe amount of the *tax offset that is carried forward is the amount of the excess worked out under Division 63 .
65-30(2)
However, reduce the *tax offset by the amount worked out by multiplying your *net exempt income by:
(a) if you are a base rate entity (within the meaning of the Income Tax Rates Act 1986 ) for the income year - 0.25; or
(b) otherwise - 0.3;
if you have a taxable income for the income year.
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