Income Tax Assessment Act 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 961 - Notional tax offsets  

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History

Div 961 inserted by No 70 of 2015, s 3 and Sch 2 item 17, applicable in relation to assessments for the 2014-15 income year and later income years.

Subdivision 961-A - Dependant (non-student child under 21 or student) notional tax offset  

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History

Subdiv 961-A inserted by No 70 of 2015, s 3 and Sch 2 item 17, applicable in relation to assessments for the 2014-15 income year and later income years.

Guide to Subdivision 961-A

SECTION 961-1   What this Subdivision is about  

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This Subdivision provides for a notional tax offset for an income year if you contribute to the maintenance of a non-student child or a student dependant. The notional tax offset can only be taken into account in working out certain tax offsets under the Income Tax Assessment Act 1936 .

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History

S 961-1 inserted by No 70 of 2015, s 3 and Sch 2 item 17, applicable in relation to assessments for the 2014-15 income year and later income years.

TABLE OF SECTIONS

TABLE OF SECTIONS

Entitlement to the notional tax offset
961-5	Who is entitled to the notional tax offset
Amount of the notional tax offset
961-10	Amount of the dependant (non-student child under 21 or student) notional tax offset
961-15	Reduced amounts of the dependant (non-student child under 21 or student) notional tax offset
961-20	Reductions to take account of the dependant ' s income

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