Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 61-710 61-710 Amount of the seafarer tax offset
The amount of the company ' s * tax offset for the income year is the amount (rounded up to the nearest whole dollar) worked out using the formula:
Gross payment amounts × 30 %
where:
gross payment amounts
means the total amount of
*
withholding payments covered by section
12-35
or subsection
12-60(1)
in Schedule
1
to the
Taxation Administration Act 1953
payable by the company in the income year:
(a) to individuals in respect of whom the company has 91 days or more in the income year that qualify for the offset as mentioned in subsection 61-705(2) ; and
(b) in respect of any of the following:
(i) the employment of, or the work or services performed by, such individuals in relation to which the company so qualifies for the offset;
(ii) leave accrued by such individuals during such employment, work or services;
(iii) training of such individuals that relates to such employment, work or services.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
