INCOME TAX ASSESSMENT ACT 1997
[ CCH Note: Subdiv 61-IA will be repealed by No 49 of 2019, s 3 and Sch 4 item 76, effective 1 July 2019.]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 an income year for child care fees if you meet certain conditions.
The amount of the offset is 30% of the difference between the amounts for each child, in the previous year, of child care fees incurred and child care benefit entitlement. This is subject to an indexed cap of $4,000 per child.
If the amount of the tax offset exceeds the amount of your income tax liability, the excess may be transferred to your spouse as a tax offset.