INCOME TAX RATES ACT 1986 [ARCHIVE]

PART I - PRELIMINARY  

SECTION 3 [ARCHIVE]   INTERPRETATION  

3(1)  

reduced notional income
, in relation to a taxpayer deriving a notional income in the year of income, as specified in:


(a) section 59AB or 86 of the Assessment Act; or


(b) the former section 42-300 of the Income Tax Assessment Act 1997 ;

means the amount that would be that notional income if that notional income had been calculated by reference to the reduced taxable income instead of by reference to the taxable income.


 

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