Document ID: chunk:federal_register_of_legislation:C2025C00029:section:30:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 30 (pt 2/19)
Character Range: 1501820–1504451

to the refundable tax offset rules unless:
 (a) the entity is an *exempt institution that is eligible for a refund; or
 (b) the entity is a *life insurance company and the company's interest in the *membership interest on which the distribution was made was not held by the company on behalf of its shareholders at any time during the period:
 (i) starting at the beginning of the income year of the company in which the distribution is made; and
 (ii) ending when the distribution is made.
 (1DA) A *tax offset is not subject to the refundable tax offset rules if:
 (a) an entity is entitled to the tax offset under Division 207 because a *franked distribution is made, or *flows indirectly, to the entity; and
 (b) the entity is a foreign resident and carries on business in Australia at or through a permanent establishment of the entity in Australia, being a permanent establishment within the meaning of:
 (i) a double tax agreement (as defined in Part X of the Income Tax Assessment Act 1936) that relates to a foreign country and affects the entity; or
 (ii) subsection 6(1) of that Act, if there is no such agreement; and
 (c) the distribution is attributable to the permanent establishment.
 (1E) Where a *corporate tax entity is entitled to a *tax offset under Subdivision 210‑H because a *distribution *franked with a venture capital credit is made to the entity, the tax offset is not subject to the refundable tax offset rules unless:
 (a) the entity is a *life insurance company; and
 (b) the *membership interest on which the distribution was made was not held by the company on behalf of its shareholders at any time during the period:
 (i) starting at the beginning of the income year of the company in which the distribution is made; and
 (ii) ending when the distribution is made.

67‑30  Refundable tax offsets—R&D
 (1) A *tax offset to which an *R&D entity is entitled under section 355‑100 (about R&D) for an income year is subject to the refundable tax offset rules if the amount of the tax offset is worked out in accordance with item 1 of the table in subsection 355‑100(1) (disregarding subsection 355‑100(3)).
Note: Otherwise, the tax offset will be a non‑refundable tax offset (see item 35 of the table in subsection 63‑10(1)).
 (2) Without limiting its effect apart from this subsection, subsection (1) also has the effect it would have if:
 (a) subsection (3) had not been enacted; and
 (b) the reference in subsection (1) to an *R&D entity were, by express provision, confined to an R&D entity that:
 (i) is a *constitutional corporation; or
 (ii) has its registered office (within the meaning of the