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  • T7 Landcare and water facility 2019

    Do you have an unused 'landcare and water facility' tax offset from a previous year that you can use this year?

    No

    Go to T8 Early stage venture capital limited partnership 2019, or go back to the Individual tax return instructions 2019.

    Yes

    Read on.

    You need to know

    This question applies only if your income tax liabilities from earlier years have not absorbed all of the excess or unused landcare and water facility tax offset available to you. The amount of your excess or unused tax offset is shown on your notice of assessment or amended notice of assessment for the year ending 30 June 2018.

    There is no limit to the number of years you can carry forward any balance of landcare and water facility tax offset.

    Unused net exempt income

    Your unused landcare and water facility tax offset carried forward from the previous year may need to be adjusted for any net exempt income. Exempt income is explained in Amounts that you do not pay tax on 2019.

    If you do not have any unused net exempt income, go to Completing this item.

    The landcare and water facility tax offset carried forward from a previous year is reduced by 30 cents for every dollar of unused net exempt income, provided you had taxable income for that year. Unused net exempt income is any net exempt income left after deducting any tax losses of earlier income years from that year's net exempt income.

    If you have unused net exempt income and are unsure how to calculate the landcare and water facility tax offset carried forward from a previous year, phone 13 28 66 for more information. Otherwise, read on.

    What you need

    Your notice of assessment or amended notice of assessment for the year ending 30 June 2018.

    Completing this item

    Write the amount of brought-forward landcare and water facility tax offset at T item T7 on your tax return.

    Where to go next

      Last modified: 30 May 2019QC 58144