Document ID: chunk:federal_register_of_legislation:C2015A00162:clause:3_7
Version: federal_register_of_legislation:C2015A00162
Segment Type: clause
Provision Reference: sch 3 cl 7
Character Range: 18460–19211

7  Subsection 65J(2B) (method statement, steps 2 and 3)
Repeal the steps (including the note), substitute:

           Step 2. Reduce the individual grossed‑up non‑rebatable amount for each employee of the employer by $30,000, but not below zero.
           Step 2A. If the amount calculated under step 2 in relation to an employee is positive, reduce that amount (but not below zero) by the lesser of:

                (a) $5,000; and
                (b) so much of the employee's individual grossed‑up non‑rebatable amount as relates to benefits covered by subsection (2J) (about salary packaged meal entertainment and entertainment facility leasing benefits).

           Step 3. Add up the results of step 2A for all the employer's employees.