Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_2:p13
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 13/18)
Character Range: 812120–815056

are *unutilised at the end of the *base year;
                (b) deductions for tax losses of the complying superannuation class that were used in making the *base assessment.

            The result of this step is the adjusted taxable income of the company for the *base 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:

                (aa) section 61‑110 of the Income Tax Assessment Act 1997 (the Low Income tax offset); or
                (a) Subdivision 61‑G of the Income Tax Assessment Act 1997 (the private health insurance tax offset); or
                (da) Subdivision 61‑L of the Income Tax Assessment Act 1997 (tax offset for Medicare levy surcharge (lump sum payments in arrears)); or
                (db) Division 160 of the Income Tax Assessment Act 1997 (the corporate loss carry back tax offset for 2020‑21, 2021‑22 or 2022‑23 for businesses with turnover under $5 billion); or
                (e) section 205‑70 of the Income Tax Assessment Act 1997 (the tax offset for *franking deficit tax liabilities); or
                (g) section 290‑230 of the Income Tax Assessment Act 1997 (the tax offset for superannuation contributions made for a spouse); or
                (ga) Subdivision 360‑A of the Income Tax Assessment Act 1997 (the tax offset for early stage investors in innovation companies); or
                (h) Subdivision 418‑B of the Income Tax Assessment Act 1997 (the junior minerals exploration incentive tax offset).

           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 HELP debt 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 3AAA. The amount (if any) that you would have been liable to pay for the *base