Document ID: chunk:federal_register_of_legislation:C2024C00381:schedule:11:p3
Version: federal_register_of_legislation:C2024C00381
Segment Type: schedule
Provision Reference: sch 11 (pt 3/3)
Character Range: 76871–77459

part of the special income component; and
 (d) the amount of tax that would be payable by the taxpayer under clause 1 of Part II of Schedule 7 on a taxable income equal to the average income worked out under section 392‑45 of the Income Tax Assessment Act 1997 or reduced taxable income, as the case may be;
         C is 45% of the eligible part of the special income component; and
         D is the number of whole dollars in the taxable income.
In applying the formula, component B is to be worked out on the assumption that the whole of the taxable income is ordinary taxable income.