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  • Payments and transfers through the income tax system

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    Payments and transfers chapter

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    Taxation Statistics - whole document

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    This chapter provides information on payments and transfers, as reported on individual and company tax returns. Further, it covers a range of payments and transfers made through the tax system. Several of these payments provide assistance to families and individuals, such as the first child tax offset, family tax benefit and the private health insurance rebate. Conversely, both the research and development tax offset and the film and television tax offset provide targeted assistance to industry.

    The private health insurance rebate, the first child tax offset, the research and development tax offset and the film and television tax offset are refundable. This means that these offsets are not limited to the amount of tax payable.

    Other payments made by the Tax Office are energy grant scheme payments (see Chapter 12) and superannuation co-contribution payments (see Chapter 13).

    OVERVIEW

    For the 2005-06 income year:

    • over $2.3 billion was paid in transfers through the tax system for the benefit of families and individuals
    • there was a 14.6% increase in the amount of research and development tax offset claimed during 2005-06.
     
      Last modified: 18 Mar 2008QC 20124