Document ID: chunk:federal_register_of_legislation:C2023C00080:clause:2_27:p1
Version: federal_register_of_legislation:C2023C00080
Segment Type: clause
Provision Reference: sch 2 cl 27 (pt 1/5)
Character Range: 186104–188837

27  At the end of Division 385
Add:

Subdivision 385‑J—Refundable tax offset for conservation tillage

385‑175  Refundable tax offset for conservation tillage
 (1) You are entitled to a *tax offset under this section (the conservation tillage offset) for an income year in respect of a *depreciating asset if:
 (a) the asset is an *eligible no‑till seeder; and
 (b) the income year is:
 (i) the 2012‑13 income year; or
 (ii) the 2013‑14 income year; or
 (iii) the 2014‑15 income year; and
 (c) at a particular time during the income year, you:
 (i) start to use the asset to carry on a *primary production business (without previously having the asset *installed ready for use); or
 (ii) have the asset installed ready for use to carry on a primary production business; and
 (d) at the time mentioned in paragraph (c), you *hold the asset; and
 (e) the time mentioned in paragraph (c) is not:
 (i) before 1 July 2012; or
 (ii) after 30 June 2015; and
 (f) the *Agriculture Secretary has issued a Research Participation Certificate to you under section 385‑190 for the income year; and
 (g) you claim the offset in your *income tax return for the income year.
Note: The conservation tillage offset is a refundable tax offset: see section 67‑23.
 (2) You are not entitled to the conservation tillage offset if the *depreciating asset has, at any time before the time mentioned in paragraph (1)(c), been used, or *installed ready for use, by:
 (a) you; or
 (b) any other entity.

385‑180  Amount of the conservation tillage offset
  The amount of the conservation tillage offset is 15% of the *cost of the *depreciating asset.

385‑185  Application for Research Participation Certificate

Application
 (1) An entity may apply to the *Agriculture Secretary for the issue of a Research Participation Certificate to the entity for an income year under section 385‑190.

Form of application
 (2) The application must:
 (a) be in writing; and
 (b) be in a form approved, in writing, by the *Agriculture Secretary.

385‑190  Issue of Research Participation Certificate
 (1) The *Agriculture Secretary must issue a written certificate to an entity for an income year if:
 (a) the entity has made an application under section 385‑185 in relation to the income year; and
 (b) the Agriculture Secretary is satisfied that the entity has, at any time during the income year, completed a conservation tillage survey; and
 (c) the time mentioned in paragraph (b) is not:
 (i) before 1 July 2012; or
 (ii) after 30 June 2015.
 (2) A certificate under this section is to be known as a Research Participation Certificate.
 (3) For the purposes of this section, a conservation tillage survey is a survey:
 (a) conducted by the *Agriculture Secretary; and