CTHIn ForceLegislation
Income Tax Assessment (1997 Act) Regulations 2021
8No allowance for administration expenses or income tax on assessable contributions
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8 No allowance for administration expenses or income tax on assessable contributions
The new entrant rate is to be calculated ignoring: (a) administration expenses; and (b) income tax on assessable contributions.
Note: These items are allowed for in the formula in subclause 4(3) by multiplying by 1.2.