Taxation Administration Act 1953
Note: See section 3AA .Chapter 2 - Collection, recovery and administration of income tax
This section describes how to work out whether you get a tax detriment from a *scheme and, if so, the amount of the tax detriment. 45-630(2)
First, determine your actual *tax position for an income year (apart from this Subdivision). 45-630(3)
Next, determine your *hypothetical tax position for the same income year (apart from this Subdivision). 45-630(4)
Then compare each *component of the 2 positions. If the amount of that component of the actual *tax position is higher than the amount of that component of the *hypothetical tax position, the difference between the 2 amounts is a tax detriment that you get from the *scheme.
In the fact situation in the example in section 45-610 , X Pty Ltd gets a tax detriment from the scheme for the annual instalment component of its tax position for the income year.
The difference between the 2 amounts is not a tax detriment to the extent that it is attributable to certain things for which the income tax law expressly provides. See section 45-635 .
An entity may get 2 or more tax detriments from the same scheme. One reason is that the scheme may affect 2 or more components of the entity ' s tax position for an income year. Another reason is that the scheme may affect the tax position for 2 or more income years.