65-30
CurrentAmount carried forward
Chapter 2Liability rules of general application
Part 2-20Tax offsets
Division 65Tax offset carry forward rules
65-30 Amount carried forward
(1)
The amount of the *tax offset that is carried forward is the amount of the excess worked out under Division 63.
(2)
However, reduce the *tax offset by the amount worked out by multiplying your *net exempt income by:
(a)
if you are a base rate entity (within the meaning of the Income Tax Rates Act 1986) for the income year—0.25; or
(b)
otherwise—0.3;
if you have a taxable income for the income year.
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