Treasury Laws Amendment (2022 Measures No. 4) Act 2023 (29 of 2023)
Schedule 9 Taxation of military superannuation benefits: Reversing the Douglas decision
Income Tax Assessment Act 1997
6 Subsection 63-10(1) (after table item 20)
Insert:
|
21 |
*Tax offset under Subdivision 301-F (veterans' superannuation (invalidity pension) tax offset) |
Apply it against your liability (if any) to pay *Medicare levy for the income year. To the extent that an amount of it remains, apply it against your liability (if any) to pay *Medicare levy (fringe benefits) surcharge for the income year. To the extent that an amount of it remains, you cannot get a refund of it, you cannot transfer it and you cannot carry it forward to a later income year |