### A person's taxable income for a tax year

Income Tax Float YEAR Person Formula Included used 0 times
**Value type**
Float
.
**Default value**
0
**Entity**
person

### How is this calculated?

To calculate this variable, the following input is used

- Float income_tax__available_tax_loss Available tax loss
- Float income_tax__net_income Net income
- Float income_tax__annual_gross_income Annual gross income
- Float income_tax__annual_total_deduction Annual total deduction

### Formulas

This is the formula used to calculate the value of income_tax__taxable_income

### 0001-01-01

This formula is used for scenarios from the date 0001-01-01 onwards. More info on formulas

```
def formula(person, period, parameters):
taxable_income = (person(
```**'income_tax__net_income'**, period) - person(**'income_tax__available_tax_loss'**, period))
return (
taxable_income * (taxable_income > 0)
)