INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-20 - TAX OFFSETS  

Division 61 - Generally applicable tax offsets  

Subdivision 61-IA - Child care tax offset  

Amount of the child care tax offset

SECTION 61-495   Component of formula - child care offset limit  

61-495(1)  
The child care offset limit for the 2004-2005 child care base year is $4,000. The limit is indexed annually.

Note:

Subdivision 960-M shows you how to index amounts.

61-495(2)  
In applying the indexation formula in subsection 960-275(1) to determine the child care offset limit for the 2005-2006 child care base year or a later child care base year, the relevant financial year is the child care base year rather than the child care offset year for which the offset is being calculated.


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