Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 392 - Long-term averaging of primary producers' tax liability  

Subdivision 392-C - How big is your averaging adjustment?  

Your averaging adjustment

SECTION 392-75   392-75   Working out your averaging adjustment  
Work out your averaging adjustment for the * current year using the formula:


*Gross averaging
amount
× *Averaging component
*Basic taxable income


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