Document ID: chunk:federal_register_of_legislation:C2025C00014:section:23af:p6
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 23AF (pt 6/7)
Character Range: 116091–118811

amount (if any) remaining after deducting from so much of the other income as is assessable income:
 (d) any deductions allowable to the taxpayer in relation to the year of income that relate exclusively to that assessable income; and
 (e) so much of any other deductions (other than apportionable deductions) allowable to the taxpayer in relation to the year of income as, in the opinion of the Commissioner, may appropriately be related to that assessable income; and
 (f) the amount calculated using the formula in subsection (17B).
 (17B) The formula referred to in paragraph (17A)(f) is:

where:
Apportionable deductions means the number of whole dollars in the apportionable deductions allowable to the taxpayer in relation to the year of income.
Other taxable income means the amount that, apart from paragraph (17A)(f), would be represented by the component Other taxable income in subsection (17A).
Notional gross taxable income means the number of whole dollars in the amount that would have been the taxpayer's taxable income of the year of income if the exempt amount were not exempt income.
 (17C) Subsection (17A) applies to a taxpayer in respect of income of a year of income as if any payment covered by section 83‑240 or 305‑65 of the Income Tax Assessment Act 1997 in relation to qualifying service that was made in respect of the taxpayer during that year of income were income of the taxpayer of that year of income that is exempt from tax under this section.
 (18) In this section, unless the contrary intention appears:
approved project means a project in respect of which there is in force an approval granted under subsection (11).
eligible contractor means:
 (a) a resident of Australia;
 (b) the Commonwealth, a State, a Territory, the government of a country other than Australia or an authority of the Commonwealth, of a State, of a Territory or of the government of a country other than Australia;
 (c) an organization:
 (i) of which Australia and a country or countries other than Australia are members; or
 (ii) that is constituted by a person or persons representing Australia and a person or persons representing a country or countries other than Australia; or
 (d) an agency of an organization to which paragraph (c) applies.
eligible foreign remuneration, in relation to a person, means income (not being excluded income) that is derived by the person at a time when the person is a resident, being:
 (a) income consisting of salary, wages, commission, bonuses or allowances, or of amounts included in a person's assessable income under Division 83A of the Income Tax Assessment Act 1997 (about employee share schemes), derived by the person in his or her capacity as an employee of an