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  • About question T14

    Question T14 image from Tax return for individuals (supplementary section) form

    Were you entitled to a tax offset for interest from the land transport facilities tax offset scheme or infrastructure borrowings scheme

    or

    did you perform work or services in the Joint Petroleum Development Area (JPDA) of the Timor Sea?

     

    No

     

    Yes

    Read below.

    If you can claim more than one of the tax offsets listed above, you will need to add up all your tax offset amounts before writing the total on your tax return (supplementary section).

    Part A

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Were you entitled to a tax offset for interest from the land transport facilities tax offset scheme or infrastructure borrowings scheme?

     

    No

     

    Yes

    Read below.

    You may be able to claim a tax offset if:

    • you derived any interest from the land transport facilities tax offset scheme, or
    • you elected to have interest derived from your investment in infrastructure borrowings included as part of your assessable income.

    You may be entitled to a tax offset of 30%.

    Attention

    If your interest derived from the land transport facilities tax offset scheme is subject to an annual upper limit under an agreement between the lenders, the borrowers and the Minister for Transport and Regional Services, you cannot claim a tax offset for the part of your interest that exceeds that upper limit.

    End of attention

    Step 1

    Work out the amount of interest derived from the land transport facilities tax offset scheme for which you can claim a tax offset and any amount of interest you received from infrastructure borrowings.

    Step 2

    Multiply the amount from step 1 by 30, then divide by 100. This is the 30% tax offset for the interest you received.

    Part B

    Did you receive income for work or services performed in the Joint Petroleum Development Area (JPDA) of the Timor Sea?

     

    No

     

    Yes

    Read below.

    You will need a copy of the Timor Sea Treaty - Joint Petroleum Development Area instructions 2011 (NAT 8277), available on our website, to work out how to deal with your JPDA income. The instruction sheet will tell you how to complete your tax return so that you receive the correct assessment.

    Completing this item

    Step 1

    Add up all your tax offset amounts at this item. Write the total at C item T14 on page 16 of your tax return. Do not show cents.

    Step 2

    Complete the CLAIM TYPE box at the right of C item T14 as follows:

    • If you are claiming a JPDA tax offset under part B, print H in the CLAIM TYPE box.
    • If you are claiming a tax offset under the land transport facilities tax offset scheme or infrastructure borrowings scheme under part A, print I in the CLAIM TYPE box.
    • If you are claiming for more than one type of tax offset and code letters H and I both apply, choose the code letter that applies to the largest amount and print it in the CLAIM TYPE box.

    Where to go next

     
      Last modified: 29 Jun 2011QC 25528