View source: R/small_business_tax_offset.R
small_business_tax_offset | R Documentation |
Small Business Tax Offset
small_business_tax_offset(
taxable_income,
basic_income_tax_liability,
.dots.ATO = NULL,
aggregated_turnover = NULL,
total_net_small_business_income = NULL,
fy_year = NULL,
tax_discount = NULL
)
taxable_income |
Individual's assessable income. |
basic_income_tax_liability |
Tax liability (in dollars) according to the method in the box in s 4.10(3) of the Income Tax Assessment Act 1997 (Cth). In general, |
.dots.ATO |
A If |
aggregated_turnover |
A numeric vector the same length as Aggregated turnover of a taxpayer is the sum of the following:
Original URL was https://www.ato.gov.au/Business/Research-and-development-tax-incentive/Claiming-the-tax-offset/Steps-to-claiming-the-tax-offset/Step-3—Calculate-your-aggregated-turnover/ |
total_net_small_business_income |
Total net business income within the meaning of the Act. For most taxpayers, this is simply any net income from a business they own (or their share of net income from a business in which they have an interest). The only difference being in the calculation of the net business income of some minors (vide Division 6AA of Part III of the Act). |
fy_year |
The financial year for which the small business tax offset is to apply. |
tax_discount |
If you do not wish to use the legislated discount rate from a particular |
Basic income tax method s4-10(3) http://classic.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s4.10.html.
Explanatory memorandum https://github.com/HughParsonage/grattan/blob/master/data-raw/parlinfo/small-biz-explanatory-memo-2015.pdf from the original http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5494_ems_0a26ca86-9c3f-4ffa-9b81-219ac09be454/upload_pdf/503041.pdf
.
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