CTHRepealedLegislation
Income Tax Assessment Regulations 1997
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.