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  • Offsets and rebates

    Tax offsets (sometimes referred to as rebates) directly reduce the amount of tax payable on your taxable income. Generally, offsets can reduce your tax payable to zero, but on their own they can't get you a refund.

    Foreign income tax offset

    You may be eligible for a foreign income tax offset for taxes you paid in another country on income you earned there.

    See also:

    Research and development tax incentive

    The Research and development (R&D) tax incentive provides a tax offset for eligible R&D activities. It has two core components:

    • a refundable tax offset for certain eligible entities whose aggregated turnover is less than $20 million
    • a non-refundable tax offset for all other eligible entities.

    See also:

    Small business income tax offset

    Small businesses are entitled to a tax offset on the portion of their income that is from:

    • net small business income from sole trading activities
    • a share of net small business income from a partnership or trust less any deductions attributable to your share.

    See also:

    Last modified: 20 Nov 2017QC 51610