Document ID: chunk:federal_register_of_legislation:C2010C00262:clause:3_128
Version: federal_register_of_legislation:C2010C00262
Segment Type: clause
Provision Reference: sch 3 cl 128
Character Range: 53831–54544

128  Subsection 61‑505(2) (method statement, steps 3, 4 and 5)
Repeal the steps, substitute:

           Step 3. Work out the percentage (the small business percentage) using the formula:

            If that percentage is more than 100%, the small business percentage is 100%.
           Step 4. If your *aggregated turnover for the year is $50,000 or less, multiply the amount at step 2 by the small business percentage: the result is the amount of your *tax offset.
           Step 5. If your *aggregated turnover for the year is more than $50,000, work out the fraction (the small business phase‑out fraction) using the formula:

            The amount of your *tax offset is worked out using the formula: