Taxation Administration Act 1953
Note: See section 3AA .Chapter 2 - Collection, recovery and administration of income tax
Your notional tax is your *adjusted tax (worked out under section 45-340 ) on your *adjusted taxable income (worked out under section 45-480 ) for the *base year. Notional tax if trust has withholding income 45-475(2)
However, your notional tax (as worked out under subsection (1)) is reduced if the trust ' s assessable income for the *base assessment includes amounts in respect of *withholding payments (except *non-quotation withholding payments). 45-475(3)
It is reduced (but not below nil) by your *adjusted tax (worked out under section 45-340 ) on your *adjusted withholding income (worked out under section 45-485 ) for the *base year. Commissioner may take into account actual and proposed changes to the law 45-475(4)
Subsections 45-325(4) and (5) apply for the purposes of working out your *notional tax under this section.
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