Document ID: chunk:federal_register_of_legislation:C2014C00751:clause:2_5
Version: federal_register_of_legislation:C2014C00751
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 89520–90127

5  After subsection 35‑10(2D)
Insert:

Income requirement
 (2E) You satisfy this subsection for an income year if the sum of the following is less than $250,000:
 (a) your taxable income for that year;
 (b) your *reportable fringe benefits total for that year;
 (c) your *reportable superannuation contributions for that year;
 (d) your *total net investment losses for that year.
For the purposes of paragraph (a), when working out your taxable income, disregard any excess mentioned in subsection (2) for any *business activity for that year that you could otherwise deduct under this Act for that year.