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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 1 - INTRODUCTION AND CORE PROVISIONS  

PART 1-3 - CORE PROVISIONS  

Division 4 - How to work out the income tax payable on your taxable income  

SECTION 4-25  

4-25  Special provisions for working out your basic income tax liability  

 View history reference ITAA 36
The following provisions may increase your basic income tax liability beyond the liability worked out simply by applying the income tax rates to your taxable income:


(a) Subdivision 355-G;


(b) subsection 392-35(3).

Note 1:

Subdivision 355-G increases some entities' tax liability by requiring them to pay extra income tax on government recoupments relating to R&D activities for which entitlements to tax offsets arise under Division 355.

Note 2:

Subsection 392-35(3) increases some primary producers' tax liability by requiring them to pay extra income tax on their averaging components worked out under Subdivision 392-C.


 



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