Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p3
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 3/22)
Character Range: 870267–872853

*tax benefits from the *scheme.

Credit for each of 2 or more tax detriments
 (4) If you get 2 or more *tax detriments from the scheme, subsections (1) and (2) have a separate application to each of them. However, the total of the credits cannot exceed the total *general interest charge referred to in subsection (3).

45‑630  When do you get a tax detriment from a scheme?
 (1) This section describes how to work out whether you get a tax detriment from a *scheme and, if so, the amount of the tax detriment.
 (2) First, determine your actual *tax position for an income year (apart from this Subdivision).
 (3) Next, determine your *hypothetical tax position for the same income year (apart from this Subdivision).
 (4) Then compare each *component of the 2 positions. If the amount of that component of the actual *tax position is higher than the amount of that component of the *hypothetical tax position, the difference between the 2 amounts is a tax detriment that you get from the *scheme.
Example: In the fact situation in the example in section 45‑610, X Pty Ltd gets a tax detriment from the scheme for the annual instalment component of its tax position for the income year.
Note 1: The difference between the 2 amounts is not a tax detriment to the extent that it is attributable to certain things for which the income tax law expressly provides. See section 45‑635.
Note 2: An entity may get 2 or more tax detriments from the same scheme. One reason is that the scheme may affect 2 or more components of the entity's tax position for an income year. Another reason is that the scheme may affect the tax position for 2 or more income years.

45‑635  No tax benefit or detriment results from choice for which income tax law expressly provides

Choice under the income tax law generally
 (1) The difference between the 2 amounts referred to in subsection 45‑605(4) or 45‑630(4) is not a *tax benefit or *tax detriment if there would have been no difference between the 2 amounts but for one or more matters covered by subsection (3).
 (2) The difference between the 2 amounts is not a *tax benefit or *tax detriment to the extent that the difference between the 2 amounts would have been less but for one or more matters covered by subsection (3).
 (3) This subsection covers:
 (a) an entity making an agreement, choice, declaration, election or selection; or
 (b) an entity giving a notice or exercising an option;
for which this Act expressly provides. However, this subsection does not cover an entity doing such a thing under:
 (c) Subdivision 126‑B (about CGT roll‑overs