Document ID: chunk:federal_register_of_legislation:C2008A00141:clause:1_6:p4
Version: federal_register_of_legislation:C2008A00141
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 4/4)
Character Range: 20427–21475

an income year if the amount worked out under paragraph 61‑650(1)(a) for the year exceeds your offset limit for the year under section 61‑660.

 (2) The amount that is covered by this section is the lesser of:
 (a) all of the expenses covered for you by section 61‑640 for the year that can be counted for the purposes of subparagraph 61‑650(1)(a)(i); and
 (b) twice the amount of the excess.

Note: The excess is worked out by comparing half of the education expenses to the offset limit (see section 61‑650). Paragraph (b) doubles any excess so that the excess expenses have their original value and can be counted in full the next year.

Example: A family with one child in full‑time secondary schooling has incurred education expenses of $2,000 in an income year. Under section 61‑650, these expenses are halved ($1,000) and then compared to the offset limit ($750). The excess of $250 is doubled under subsection (2) to restore it to the original expense amount. In the next year, the family can count this $500 of expenses towards the offset.