# T2 Subtotal

Last updated 12 February 2019

Show at T2 the amount of tax payable after C Non-refundable non-carry forward tax offsets has been offset against B Gross tax.

T2 cannot be less than zero.

Work out the amount at T2 as follows:

• if the amount at C is less than the amount at B (see example 6a)
• take C away from B
• write the result at T2

• if the amount at C is more than or equal to the amount at B (see example 6b)
• write 0 (zero) at T2 and T5
• copy the amount at E to I Tax offset refunds (remainder of refundable tax offsets). I is mandatory. You must include an amount at I even if it is zero (if zero write 0).

## Example 6: Calculating T2 Subtotal

Example 6a: Applying C Non-refundable non-carry forward tax offsets when B Gross tax is greater than offsets – a payable position

Dark Blue Superannuation Fund has the following amounts entered into its fund income tax return:

 Taxable income A \$10,000 Gross tax B \$1,500 Non-refundable non-carry forward tax offsets C \$500 Subtotal T2 \$1,000 Refundable tax offsets E \$0 Tax payable T5 \$1,000 Tax offset refunds (remainder of refundable tax offsets) I \$0 Amount due or refundable S \$1,000

Dark Blue Superannuation Fund has an entitlement of \$500 of non-refundable non-carry forward tax offsets to offset against \$1,500 gross tax, resulting in \$1,000 tax payable and the amount due.

Example 6b: Applying C Non-refundable non-carry forward tax offsets when B Gross tax is less than offsets – a nil position

Light Blue Superannuation Fund has the following amounts entered into its Fund income tax return:

 Taxable income A \$20,000 Gross tax B \$3,000 Non-refundable non-carry forward tax offsets C \$4,000 Subtotal T2 \$0 Refundable tax offsets E \$0 Tax payable T5 \$0 Tax offset refunds (remainder of refundable tax offsets) I \$0 Amount due or refundable S \$0

Light Blue Superannuation Fund has an entitlement of \$4,000 of non-refundable non-carry forward tax offsets to offset against \$3,000 gross tax resulting in \$0 tax payable and no amount due. Light Blue Superannuation Fund loses \$1,000 of the non-refundable non-carry forward tax offsets.

QC44343