Document ID: chunk:federal_register_of_legislation:C2010C00300:clause:7_64
Version: federal_register_of_legislation:C2010C00300
Segment Type: clause
Provision Reference: sch 7 cl 64
Character Range: 36416–37168

64  After Division 61
Insert:

Division 63—Common rules for tax offsets

Guide to Division 63

63‑1  What this Division is about

      This Division sets out some rules that are common to all tax offsets.

Table of sections

63‑10 Priority rules

63‑10  Priority rules

 (1) If you have one or more *tax offsets for an income year, apply them against your basic income tax liability in the order shown in the table. To the extent that an amount of a tax offset remains, the table tells you what happens to it.

Order of applying tax offsets
Item                           Tax offset                                                                                                                                          What happens to any excess