Tax Laws Amendment (2009 Measures No. 2) Act 2009 (42 of 2009)

Schedule 4 National Urban Water and Desalination Plan

Part 1 Main amendments

Income Tax Assessment Act 1997

3 After section 67-20

Insert:

67-23 Refundable tax offsets

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

Refundable tax offsets
Item	Subject matter	Tax offset
5	private health insurance	private health insurance tax offsets under Subdivision 61-G, other than those arising under subsection 61-205(2)
10	children	first child tax offsets under Subdivision 61-I
15	no-TFN contributions income	the *tax offset available under Subdivision 295-J
20	films	the *tax offsets available under Division 376
25	National Urban Water and Desalination Plan	urban water tax offset under Subdivision 402-W
30	life insurance company's subsidiary joining consolidated group	the *tax offset available under subsection 713-545(5)
35	research and development	the tax offset available under section 73I of the Income Tax Assessment Act 1936*

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.

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