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  

Transfer of entitlement to unused balance of child care tax offset

SECTION 61-496   Entitlement to transfer  

61-496(1)  
You may transfer your entitlement to so much of your *tax offset as is equal to the excess to the individual who was your *spouse as at the last day of the child care offset year.

Note:

The excess part of a tax offset is worked out under Division 63 .

61-496(2)  
If you make a transfer:


(a) the transferee is entitled to the transferred part of the *tax offset for the child care offset year; and


(b) you are no longer entitled to the transferred part of the tax offset.

61-496(3)  
A transfer cannot be revoked.

61-496(4)  
If you die during the child care offset year, the reference to your *spouse in subsection (1) is taken to be a reference to your spouse just before your death.


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