Document ID: chunk:federal_register_of_legislation:C2005A00160:clause:1_2:p5
Version: federal_register_of_legislation:C2005A00160
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 5/6)
Character Range: 13446–15905

Special rule if the week is also a child care base week for your partner and the child

 (2) If the *child care base week is also a child care base week for your partner and the child, your approved child care fees for the week do not include any fees incurred by your partner for *approved child care, for the child in the week, for which you are not *entitled to child care benefit.

If fee reduction applies, count unreduced amount of fees

 (3) If fees for *approved child care have been reduced under section 219A of the A New Tax System (Family Assistance) (Administration) Act 1999, then for this section, a reference to the fees incurred for the care is taken to be a reference to the fees that would have been incurred for the care if they had not been so reduced.

61‑495  Component of formula—child care offset limit

 (1) The child care offset limit for the 2004‑2005 child care base year is $4,000. The limit is indexed annually.

Note: Subdivision 960‑M shows you how to index amounts.

 (2) In applying the indexation formula in subsection 960‑275(1) to determine the child care offset limit for the 2005‑2006 child care base year or a later child care base year, the relevant financial year is the child care base year rather than the child care offset year for which the offset is being calculated.

Transfer of entitlement to unused balance of child care tax offset

61‑496  Entitlement to transfer

 (1) This section applies if the amount of *tax offset for a child care offset year to which you are entitled under section 61‑470 exceeds the amount of income tax that you would have to pay for the year if:
 (a) you had not got the tax offset; and
 (b) you had not got any tax offsets that are of a higher priority under subsection 65‑25(2).

 (2) You may transfer your entitlement to so much of the *tax offset as is equal to the excess to an individual who was your *spouse on the last day of the child care offset year, subject to subsection (5).

 (3) If you make a transfer:
 (a) the transferee is entitled to so much of the *tax offset for the child care offset year as is equal to the excess; and
 (b) you are no longer entitled to so much of the tax offset as is equal to the excess.

 (4) A transfer cannot be revoked.

 (5) If you die during the child care offset year, the reference to your *spouse in subsection (2) is taken to be a reference to your spouse just before your death.

61‑497  Form of transfer

 (1) A transfer