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5. Calculation Statement |
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Calculating your T5 Tax payable and S Amount due or refundable |
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A –Taxable or net income (From Item 7) |
51000 |
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T1 |
Tax on taxable or net income |
51000 |
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M – R&D recoupment tax |
1000 |
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B – Gross tax (25%) ((51000+1000)*25%) |
12500 |
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C – Non-refundable non-carry forward tax offsets |
(3000) |
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T2 |
Subtotal 1 |
9500 |
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D – Non-refundable carry forward tax offsets |
(3000) |
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T3 |
Subtotal 2 |
6500 |
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E – Refundable tax offsets |
(3000) |
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T4 |
Subtotal 3 |
3500 |
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F – Franking deficit tax offset |
(1000) |
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T5 |
Tax payable |
2500 |
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G – Section 102AAM interest charge (Interest charge on certain distributions from non-resident trusts) |
1000 |
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H – Eligible credits |
(500) |
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H1 – Credit for interest on early payments – amount of interest H2 – Credit for tax withheld – foreign resident withholding (excluding capital gains) H3 – Credit for tax withheld where ABN is not quoted H4 – Tax withheld from interest or investments H5 – Credit for TFN amounts withheld from payments from closely held trusts H7 – Other credits H8 – Credit for foreign resident capital gains withholding amounts |
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I – Tax offset refunds (Remainder of refundable tax offsets) |
(200) |
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K – PAYG instalments raised (whether or not the instalments have been actually paid) |
(500) |
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S |
Amount due or (refundable) (S=T5+G-H-I-K) |
2300 |
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Note: A, B, T1, T5, I and S of the Calculation statement are mandatory |
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