INCOME TAX ASSESSMENT ACT 1997
[ CCH Note: Subdiv 61-I will be repealed by No 49 of 2019, s 3 and Sch 4 item 76, effective 1 July 2019.]
You are entitled to a tax offset for your first child, for income years up to and including the year the child turns 5, if you meet certain conditions.
The amount of the offset is usually based on your tax liability in the year before you became responsible for the child, and on a comparison between your taxable income in that year and the year you are claiming for. However, if you are a low income taxpayer, a minimum offset will generally be available.
Instead of claiming the offset yourself, you may transfer your entitlement to your spouse.
If you are entitled to a tax offset because you adopt a child, you might also be entitled to an offset if the child was in your care before the adoption.