Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 290.235

Limit on amount of tax offsets

             (1)  The total of the amounts of * tax offset to which you are entitled for contributions you make for an income year cannot exceed 18% of the lesser of the following:

                     (a)  $3,000 reduced by the amount (if any) by which the total mentioned in paragraph 290-230(2)(c) for the income year exceeds $37,000;

                     (b)  the sum of the * spouse contributions you make in the income year.

             (2)  The maximum * tax offset to which you are entitled for an income year is $540, even if you are entitled to a tax offset for more than 1 * spouse.



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