CTR - Calculation Statement - ATO

5. Calculation Statement

Calculating your T5 Tax payable and S Amount due or refundable

A –Taxable or net income (From Item 7)

51000

T1

Tax on taxable or net income

51000

M – R&D recoupment tax 

1000

B – Gross tax (25%) ((51000+1000)*25%)

12500

C – Non-refundable non-carry forward tax offsets

(3000)

T2 

Subtotal 1

9500

D – Non-refundable carry forward tax offsets

(3000)

T3

Subtotal 2

6500

E – Refundable tax offsets

(3000)

T4

Subtotal 3

3500

F – Franking deficit tax offset

(1000)

T5

Tax payable

2500

G – Section 102AAM interest charge

(Interest charge on certain distributions from non-resident trusts)

1000

H – Eligible credits

(500)

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

I – Tax offset refunds (Remainder of refundable tax offsets)

(200)

K – PAYG instalments raised

(whether or not the instalments have been actually paid)

(500)

S

Amount due or (refundable)

(S=T5+G-H-I-K)

2300

Note: A, B, T1, T5, I and S of the Calculation statement are mandatory