• Section D: Income tax calculation statement

    Attention

    Warning:

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

    End of attention

    This statement works out the tax liability where there is taxable income.

    We use the information which you provide in this section to calculate the 2014–15 Commissioner’s instalment rate under the PAYG income instalment system. You must complete all applicable items as accurately as possible to ensure that the rate calculated results in a reliable estimate of tax payable for 2014–15.

    To work through the Calculation statement on the tax return, begin with the right-hand column. Three of the labels in the right-hand column (C Non-refundable non-carry forward tax offsets, E Refundable tax offsets and H Eligible credits) require certain labels in the left-hand column to be completed so that the total can be inserted at the appropriate label.

    Labels A, T1, J, T5 and I are mandatory labels.

    Last modified: 05 Nov 2014QC 40267