21AInterpretation

21A Interpretation

In this Part, unless the contrary intention appears:

business, in relation to a person, includes:

(a) a profession or trade;
(b) any other activity carried on for fee, gain or reward; and
(c) the activity, carried on by the person, of employing persons to perform duties for or in connection with another business;

whether carried on by the person alone or together with other persons.

corporation has the same meaning as in the Corporations Act 2001.

deductible amount, in relation to a group in relation to a financial year, means the amount calculated in accordance with the formula: Image unavailable in extracted text

A is the number of whole dollars in the total amount of the taxable wages paid or payable during the financial year by members of the group;

B is the number of whole dollars in the total amount of the taxable wages and the interstate wages paid or payable during the financial year by the members of the group;

C is:

(a) in the case of the financial year that commenced on 1 July 1985—$170,000; or
(b) in the case of a subsequent financial year:
(i) in a case where the relevant amount for the purposes of section 14 in relation to the financial year is ascertained in accordance with subsection 14(4D) or (4E) and subsection 14(4F) does not apply—that relevant amount; or
(ii) in a case where there are, in accordance with subsection 14(4F), 2 or more relevant amounts for the purposes of section 14 applicable to periods in that year—the sum of the amounts calculated in accordance with subparagraph 14(4A)(h)(i);

D is the factor calculated in accordance with the formula Image unavailable in extracted text, where:

E is:

(c) in the case of the financial year that commenced on 1 July 1985—the number of whole days in the initial period during which there was a designated group employer in respect of the group; or
(d) in the case of a subsequent financial year—the number of whole days in the financial year during which there was a designated group employer in respect of the group;

F is:

(e) in the case of the financial year that commenced on 1 July 1985—the number of days in the initial period in respect of which no taxable or interstate wages were paid or payable by any member of the group; or
(f) in the case of a subsequent financial year—the number of days in the financial year in respect of which no taxable or interstate wages were paid or payable by any member of the group; and