INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
[ CCH Note: The Heritage conservation rebate will be converted into a grants program from 1 July 1999 - see Div 30 of ITAA '97. The new program, announced in the 1999/2000 Federal Budget and named the Cultural Heritage Projects Program, will have a total funding cap of $3.6m for 1999/2000.
The Cultural Heritage Projects Program is a program funded for six years from 1 July 1999. The program is administered by Environment Australia and is open to private owners, legally incorporated not-for-profit organisations and local government authorities.
The program supports the conservation of places of cultural significance - historic and Indigenous heritage. Only historic or Indigenous places on the Register of the National Estate, its Interim list or State heritage registers are eligible for funding. Projects that aim to identify Indigenous Heritage places for appropriate listing or conservation planning may also be supported.]
View history note
Hide history noteIf:
(a) a partnership is issued with a final certificate that specifies an amount of eligible heritage conservation works expenditure; and
(b) the partnership has net income for the year of income in which the partnership applied for the final certificate;
each partner is entitled to a rebate of tax in the partner's assessment for the year of income equal to:
| 20% × |
Eligible heritage
conservation works expenditure |
× |
Partner's individual interest in
the net income of the partnership of the year of income Net income of the partnership of the year of income |
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