Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The amount of a * tax offset under subsection 61 - 580(1) is the amount worked out using the following formula:
where:
"total Medicare levy surcharge" means the total of the * Medicare levy surcharge referred to in paragraph 61 - 580(1)(b) that is payable by you for the * current year.
"total non-arrears Medicare levy surcharge" means the amount that would be the total Medicare levy surcharge if the * MLS lump sums paid to you (and the MLS lump sums paid to the individual referred to in paragraph 61 - 580(2)(a)) were disregarded.
(2) The amount of a * tax offset under subsection 61 - 580(2) is the amount worked out using the following formula:
where:
"total family Medicare levy surcharge" means the total of the * Medicare levy surcharge referred to in paragraph 61 - 580(2)(c) that is payable by you for the * current year.
"total non-arrears family Medicare levy surcharge" means the amount that would be the total family Medicare levy surcharge if the * MLS lump sums referred to in paragraph 61 - 580(2)(e) were disregarded.