45
In forceMeaning of excess deduction
Part 2Liability to taxation
Division 6Sharing of excess deduction by group members
45 Meaning of excess deduction
(1)
Subsection (2) applies—
(a)
for an assessment of the annual liability of the DGE for a group, if the DGE’s annual deduction for the financial year is greater than the DGE’s annual wages for the year; or
(b)
for an assessment of the final liability of the DGE for a group, if the DGE’s final deduction for the final period is greater than the DGE’s final wages for the period.
(2)
The amount of the difference is the excess deduction for the assessment.
(3)
In this section—
annual deduction see section 33.
annual wages see section 33.
final deduction see section 41.
final wages see section 41.
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