Working out final deduction for transitional financial year—DGE for a group
148F Working out final deduction for transitional financial year—DGE for a group
This section applies to an employer if—
on the last day of a final period, the employer is the DGE for a group; and
all or part of the final period occurs in the second half of the transitional financial year.
Despite section 41, definition final deduction, the final deduction for the DGE for the final period is the greater of zero and the amount worked out by adding the deduction (first half) and deduction (second half) for the DGE.
For subsection (2), the DGE’s deduction (first half) is the amount worked out using the following formula—where—
A means the number of days—
that are in the part of the final period occurring in the first half of the transitional financial year; and
for which 1 or more relevant group employers pay, or are liable to pay, as members of the group taxable wages or interstate wages, or taxable wages and interstate wages.
B means the number of days—
that are in the part of the final period occurring in the second half of the transitional financial year; and
for which 1 or more relevant group employers pay, or are liable to pay, as members of the group taxable wages or interstate wages, or taxable wages and interstate wages.
C means the number of days in the transitional financial year.
D1 means the DGE’s deduction (first half) in dollars.
IW1 means the amount of interstate wages paid or payable for the part of the final period occurring in the first half of the transitional financial year by each relevant group employer as a member of the group.
K means 1,300,000.
TW1 means the amount of taxable wages paid or payable for the part of the final period occurring in the first half of the transitional financial year by each relevant group employer as a member of the group.
X see subsection (5).
Also, for subsection (2), the DGE’s deduction (second half) is the amount worked out using the following formula—where—
A means the number of days—
that are in the part of the final period occurring in the first half of the transitional financial year; and
for which 1 or more relevant group employers pay, or are liable to pay, as members of the group taxable wages or interstate wages, or taxable wages and interstate wages.
B means the number of days—
that are in the part of the final period occurring in the second half of the transitional financial year; and
for which 1 or more relevant group employers pay, or are liable to pay, as members of the group taxable wages or interstate wages, or taxable wages and interstate wages.
C means the number of days in the transitional financial year.
D2 means the DGE’s deduction (second half) in dollars.
IW2 means the amount of interstate wages paid or payable for the part of the final period occurring in the second half of the transitional financial year by each relevant group employer as a member of the group.
K means 1,300,000.
TW2 means the amount of taxable wages paid or payable for the part of the final period occurring in the second half of the transitional financial year by each relevant group employer as a member of the group.
X see subsection (5).
For subsections (3) and (4), the amount for X is to be worked out using the following formula—where—
IW means the amount of interstate wages paid or payable for the final period by each relevant group employer as a member of the group.
IWhalf means the amount of interstate wages paid or payable by each relevant group employer as a member of the group—
in relation to the deduction (first half)—for the part of the final period occurring in the first half of the transitional financial year; or
in relation to the deduction (second half)—for the part of the final period occurring in the second half of the transitional financial year.
TW means the amount of taxable wages paid or payable for the final period by each relevant group employer as a member of the group.
TWhalf means the amount of taxable wages paid or payable by each relevant group employer as a member of the group—
in relation to the deduction (first half)—for the part of the final period occurring in the first half of the transitional financial year; or
in relation to the deduction (second half)—for the part of the final period occurring in the second half of the transitional financial year.
In this section—
relevant group employer, for a final period for the DGE for a group, means an employer who was a member of the group for all or part of the final period.
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