Document ID: chunk:federal_register_of_legislation:C2015A00066:clause:1_9
Version: federal_register_of_legislation:C2015A00066
Segment Type: clause
Provision Reference: sch 1 cl 9
Character Range: 6871–7315

9  Section 65‑30
Repeal the section, substitute:

65‑30  Amount carried forward
 (1) The amount of the *tax offset that is carried forward is the amount of the excess worked out under Division 63.
 (2) However, reduce the *tax offset by the amount worked out by multiplying your *net exempt income by:
 (a) if you are a *small business entity for the income year—0.285; or
 (b) otherwise—0.3;
if you have a taxable income for the income year.