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  • Payments and transfers through the income tax system

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    Payments and transfers chapter

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    This chapter provides information on payments and transfers, as reported on individual and company tax returns. 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 private health insurance tax offset and the education tax refund. Both the research and development tax offset and the film and television tax offset provide targeted assistance to industry.

    The education tax refund (tax offset), the private health insurance tax offset, the research and development tax offset and the film tax offset are refundable. This means that these offsets are not limited to the amount of tax payable.

    Other payments made by the ATO are fuel tax credits payments (see Chapter 14) and superannuation co-contribution payments (see Chapter 15).

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    Overview

    For the 2010-11 income year:

    • $912 million was paid in transfers through the tax system for the benefit of families and individuals
    • $698 million was paid in education tax refunds, an increase of 4.0% from 2009-10

    $614 million in tax offsets were claimed in the research and development industry, an increase of 12.0% over the previous income year.

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      Last modified: 03 Mar 2014QC 33846