Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION

PART 2-20 - TAX OFFSETS

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Division 67 - Refundable tax offset rules

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Operative provisions

SECTION 67-23

67-23 Refundable tax offsets

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The following *tax offsets are subject to the refundable tax offset rules:

Refundable tax offsets
Item	Subject matter	Tax offset
3	principal beneficiary of a special disability trust	the tax offset available under subsection 95AB(5) of the Income Tax Assessment Act 1936*
5	private health insurance	private health insurance tax offsets under Subdivision 61-G , other than those arising under subsection 61-205(2)
10	(Repealed by No 49 of 2019)
12	(Repealed by No 109 of 2014)
13	seafarers	the *tax offset available under Subdivision 61-N
13A	(Repealed by No 96 of 2014)
14	corporate losses	*loss carry back tax offset under Division 160
14A	attribution managed investment trusts - foreign resident member	the *tax offset available under section 276-110
15	no-TFN contributions income	the * tax offset available under Subdivision 295-J
20	films	the * tax offsets available under Division 376
21	*digital games	the *tax offsets available under Division 378
23	National Rental Affordability Scheme	the * tax offsets available under Division 380
24	(Repealed by No 83 of 2014)
25	(Repealed by No 84 of 2013)
27	junior minerals exploration incentive	the *tax offset available under Subdivision 418-B
30	life insurance company ' s subsidiary joining consolidated group	the * tax offset available under subsection 713-545(5)
35	(Repealed by No 93 of 2011)

Note 1:

Subsection 61-205(2) of this Act deals with tax offsets for trustees who are assessed and liable to pay tax under section 98 of the Income Tax Assessment Act 1936 .

Note 2:

For the tax offsets available under Division 207 and Subdivision 210-H (franked distributions), see section 67-25 .

Note 3:

For the tax offsets available under Division 355 (about R & D), see section 67-30 .

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History

S 67-23 amended by No 29 of 2023, s 3 and Sch 1 item 1, by inserting table item 21, effective 1 July 2023 and applicable in relation to expenditure incurred on or after 1 July 2022.

S 67-23 amended by No 92 of 2020, s 3 and Sch 2 item 1, by inserting table item 14, effective 1 January 2021.

S 67-23 amended by No 49 of 2019, s 3 and Sch 4 item 78, by repealing table item 10, effective 1 July 2019. Table item 10 formerly read:

10 children first child tax offsets under Subdivision 61-I

S 67-23 amended by No 15 of 2018, s 3 and Sch 1 item 12, by substituting " junior minerals exploration incentive " for " exploration development incentive " in table item 27, effective 1 April 2018. For application and transitional provisions, see note under Subdiv 418-DA heading.

S 67-23 amended by No 53 of 2016, s 3 and Sch 6 item 22, by inserting table item 14A, effective 5 May 2016. For application provision, see note under Div 276 heading.

S 67-23 amended by No 21 of 2015, s 3 and Sch 6 item 1, by inserting table item 23, applicable in relation to the 2015-16, 2016-17 and 2017-18 income years, but not in relation to any later income years.

S 67-23 amended by No 109 of 2014, s 3 and Sch 10 item 14, by repealing table item 12, effective 17 October 2014. Table item 12 formerly read:

12 education expenses the *tax offset available under Subdivision 61-M for income years ending before 1 July 2011

S 67-23 amended by No 96 of 2014, s 3 and Sch 2 item 20, by repealing table item 13A, effective 30 September 2014 and applicable to assessments for the income year before the income year in which this Schedule commences, for the income year in which this Schedule commences and for later income years. For transitional and saving provision see note under Div 160 heading. Table item 13A formerly read:

13A corporate losses * loss carry back tax offset under Division 160

S 67-23 amended by No 83 of 2014, s 3 and Sch 3 item 3, by repealing table item 24, effective 18 July 2014. No 83 of 2014, s 3 and Sch 3 items 6 and 7 contain the following application and transitional provision:

6 Application of amendments
6
The amendments made by this Schedule apply to assessments for the 2014-15 income year and later income years.
Note:

The provisions of the Income Tax Assessment Act 1997 repealed by this Schedule will continue to apply to assessments for the 2012-13 and 2013-14 income years.
7 Transitional - timing relating to 2013-14 income year
7
The following provisions of the Income Tax Assessment Act 1997 :
(a) subparagraph 385-175(1)(e)(ii) ;
(b) subparagraph 385-190(1)(c)(ii) ;
apply for the purposes of assessments for the 2013-14 income year as if those provisions referred to 30 June 2014 rather than 30 June 2015.

Table item 24 formerly read:

24 conservation tillage the *tax offset available under Subdivision 385-J

S 67-23 amended by No 118 of 2013, s 3 and Sch 1 item 41, by repealing table item 14, effective 29 June 2013. For application, transitional and saving provisions see note under Div 291 heading. Table item 14 formerly read:

14 refunded * excess concessional contributions the * tax offset available under paragraph 292-467(2)(b)

S 67-23 amended by No 88 of 2013, s 3 and Sch 5 item 1, by inserting table item 13A, effective 29 June 2013.

S 67-23 amended by No 84 of 2013, s 3 and Sch 8 item 28, by repealing table item 25, effective 28 June 2013. Table item 25 formerly read:

25 National Urban Water and Desalination Plan urban water tax offset under Subdivision 402-W

S 67-23 amended by No 75 of 2012, s 3 and Sch 4 item 7, by inserting table item 14, applicable in relation to excess concessional contributions for the financial year beginning on 1 July 2011 and later financial years.

S 67-23 amended by No 57 of 2012, s 3 and Sch 3 item 3, by inserting table item 13, effective 21 June 2012.

S 67-23 amended by No 50 of 2012, s 3 and Sch 3 item 13, by inserting " for income years ending before 1 July 2011 " in table item 12, effective 27 May 2012.

S 67-23 amended by No 132 of 2011, s 3 and Sch 2 item 9, by inserting table item 24, effective 2 April 2012.

S 67-23 amended by No 93 of 2011, s 3 and Sch 3 items 2 and 3, by repealing table item 35 and inserting note 3 at the end, effective 8 September 2011. For application, savings and transitional provisions see note under Div 355 heading. Table item 35 formerly read:

35 research and development the * tax offset available under section 73I of the Income Tax Assessment Act 1936

S 67-23 amended by No 90 of 2010, s 3 and Sch 4 item 5, by inserting table item 3, applicable to assessments for the 2008-09 income year and later income years.

S 67-23 amended by No 56 of 2010, s 3 and Sch 6 item 131, by inserting table item 23, applicable to tax offsets for the 2008-09 income year and later income years.

S 67-23 amended by No 56 of 2010, s 3 and Sch 6 item 129, by inserting table item 12, applicable to tax offsets for the 2009/10 income year and later income years.

S 67-23 inserted by No 42 of 2009, s 3 and Sch 4 item 3, effective 23 June 2009.

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