Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-30
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SUPERANNUATION
Division 295
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Taxation of superannuation entities
Subdivision 295-H
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Components of taxable income
SECTION 295-545
Components of taxable income
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complying superannuation funds, complying ADFs and PSTs
295-545(1)
The taxable income of a *complying superannuation entity is split into a *non-arm ' s length component and a *low tax component.
295-545(2)
The non-arm's length component for an income year is the entity's *non-arm's length income for that year less any deductions to the extent that they are attributable to that income.
295-545(3)
The low tax component is any remaining part of the entity's taxable income for the income year.
View history note
Hide history noteThe taxable income of a *complying superannuation entity is split into a *non-arm ' s length component and a *low tax component.
Note:
A concessional rate applies to the low tax component, while the non-arm ' s length component is taxed at the highest marginal rate. The rates are set out in the Income Tax Rates Act 1986 .
295-545(2)
The non-arm's length component for an income year is the entity's *non-arm's length income for that year less any deductions to the extent that they are attributable to that income.
295-545(3)
The low tax component is any remaining part of the entity's taxable income for the income year.
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