Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 210-175 Amount of the tax offset
Where the recipient is not a life insurance company
210-175(1)
If the entity receiving the * distribution is not a * life insurance company, the * tax offset is equal to the * venture capital credit on the distribution.
Where the recipient is a life insurance company
210-175(2)
If the entity receiving the * distribution is a * life insurance company, the * tax offset is worked out using the formula:
| Tax offset to which
the entity would otherwise be entitled |
× | *
Complying superannuation
class of taxable income Total income |
where:
complying superannuation class of taxable income
means the
*
complying superannuation class of taxable income of the company for the income year in which the
*
distribution is made.
complying superannuation
/
FHSA class of taxable income
(Repealed by No 70 of 2015)
tax offset to which the entity would otherwise be entitled
is the
*
tax offset that the company would be entitled to under subsection (1) if the entity were not a life insurance company.
total income
is the company
'
s assessable income for the income year.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.