You cannot claim the landcare and water facility tax offsets for expenditure incurred after the 2000–01 income year.
Landcare and water facility tax offset brought forward from prior years
Show at G the total of any landcare and water facility tax offsets carried forward and available to be applied in this income year.
The landcare and water facility tax offset is a carry-forward, non-refundable tax offset. This means you can carry forward indefinitely any excess tax offset, after tax liabilities are met, to use against future income tax liabilities. Before the tax offset can be applied in a later income year, it must be successively reduced by any unused net exempt income derived in the year the tax offset arose and any subsequent income year, providing you had a taxable income in that year. The tax offset is reduced by 30 cents for each dollar of net exempt income for 2000–01 and later income years.
The amount to show at G should take this reduction into account.