A person's taxable income for a tax year
Income Tax Float YEAR Person Formula Included used 0 timesValue 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)
)