Treasury Laws Amendment (2021 Measures No. 6) Act 2021 (111 of 2021)

Schedule 1   Refund of large-scale generation shortfall charge

Income Tax Assessment Act 1997

2   At the end of Division 59

Add:

59-100 Refund of large-scale generation shortfall charge

(1) A payment to an entity under section 98 of the Renewable Energy (Electricity) Act 2000 is not assessable income and is not *exempt income.

(2) Disregard subsection (1) for the purposes of determining whether an entity can deduct expenditure that it incurs in relation to large-scale generation certificates (within the meaning of the Renewable Energy (Electricity) Act 2000).


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).