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  • 7 Reconciliation to taxable income



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Taxable income or loss

    At T show the amount shown at item 6, label T. If this amount is a loss, print L in the box at the right of the amount.

    Calculation statement

    Taxable income

    At A show the amount shown at item 7, label T Taxable income or loss.

    Gross tax

    At B show the amount of tax payable before the allowance of any credits. The company tax rate is 30%.

    Tax payable

    At this label show the amount shown at B Gross tax.

    PAYG instalments raised

    At T show any PAYG instalments that have been raised for the current year tax liability.

    Tax withheld from interest/investments

    At Y show any amounts deducted from investment income because a TFN was not provided to the investment body.

    Total of T and Y

    At R show the total of amounts shown at T and Y.

    Total amount of tax payable or refundable

    At S show the amount of tax that is payable or refundable.

    Last modified: 14 Sep 2012QC 18005