Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_4:p17
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 17/20)
Character Range: 159770–162554

(a) any *net capital gain included in that assessable income; and
 (b) your deductions for the base year (except *tax losses), as used in making that assessment; and
 (c) the amount of any tax loss, to the extent that you can carry it forward to the next income year.

Exception: superannuation entities and net capital gains

 (2) Paragraph (1)(a) does not apply in the case of:
 (a) an eligible ADF (as defined in section 267 of the Income Tax Assessment Act 1936) for the *base year; or
 (b) an eligible superannuation fund (as defined in that section) for that year; or
 (c) a pooled superannuation trust (as defined in that section) for that year.

45‑335  Working out your adjusted withholding income

  Your adjusted withholding income for the *base year is:
 • the total of the amounts included in your assessable income for the *base assessment in respect of *withholding payments (except *non‑quotation withholding payments);
reduced by:
 • your deductions for that year, as used in making that assessment, to the extent that they reasonably relate to those amounts.

45‑340  Adjusted tax on adjusted taxable income or on adjusted withholding income

  Your adjusted tax on your *adjusted taxable income, or on your *adjusted withholding income, for the *base year is worked out as follows:

      Method statement
           Step 1. The income tax payable on your *adjusted taxable income, or on your *adjusted withholding income, for the *base year is worked out disregarding any *tax offset under:

                (a) Subdivision 61‑H of the Income Tax Assessment Act 1997 (for a premium under a private health insurance policy); or
                (b) section 159N of the Income Tax Assessment Act 1936 (for certain low income individuals); or
                (c) section 159T of the Income Tax Assessment Act 1936 (for individuals who make superannuation contributions for a spouse).

           Step 2. The Medicare levy payable on your *adjusted taxable income, or on your *adjusted withholding income, for the *base year is worked out disregarding sections 8B, 8C, 8D, 8E, 8F and 8G of the Medicare Levy Act 1986 (which increase Medicare levy in certain cases).
           Step 3. The amount (if any) that you would have been liable to pay for the *base year in respect of an accumulated HEC debt under the Higher Education Funding Act 1988 if your taxable income for the base year had been your *adjusted taxable income, or your *adjusted withholding income, for that year is worked out.
           Step 4. The results of steps 1, 2 and 3 are added together, and reduced by what would have been your *FTB amount (if any) for the *base year if your taxable income for the base year had been your *adjusted taxable income, or your *adjusted withholding income,