Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)
Schedule 11 Film tax offset amendments
Income Tax Assessment Act 1936
1 After subsection 124ZAB(6)
(6A) The Minister may, by signed writing, revoke a certificate in respect of a proposed film that has been issued under subsection (3) if:
(a) the person who applied for the certificate applies to the Minister for the revocation in the approved form; and
(b) the person provides a statutory declaration stating that:
(i) no taxpayer has claimed a deduction under this Division in respect of the film; and
(ii) a final certificate in respect of the film has not been issued under this Division; and
(iii) a taxpayer intends to claim a tax offset under Division 376 of the Income Tax Assessment Act 1997 in respect of the film; and
(iv) financial assistance has not been provided by the Film Finance Corporation Australia Limited (incorporated under the Companies Act 1981 on 12 July 1988) in respect of the film.
A certificate that is revoked under this subsection is, for the purposes of this Act, taken never to have been in force.
Note: Revocation of a certificate under this subsection allows a person to claim the tax offset under Division 376 of the Income Tax Assessment Act 1997 in respect of the film.
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