Income Tax Assessment (1997 Act) Regulations 2021
SCHEDULES
SCHEDULE 1ANote: See sections 291-170.02 , 291-170.05 and 291-170.07 and Schedule 1AA .
METHOD OF WORKING OUT AMOUNT OF NOTIONAL TAXED CONTRIBUTIONS
PART 2 - NEW ENTRANT RATE 2.4 2.4 No allowance for administration expenses or income tax on assessable contributionsThe 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 clause 1.7 by multiplying by 1.2.
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