Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 61.350

What this Subdivision is about

You are entitled to a tax offset for your first child, for income years up to and including the year the child turns 5, if you meet certain conditions.

The amount of the offset is usually based on your tax liability in the year before you became responsible for the child, and on a comparison between your taxable income in that year and the year you are claiming for. However, if you are a low income taxpayer, a minimum offset will generally be available.

Instead of claiming the offset yourself, you may transfer your entitlement to your spouse.

If you are entitled to a tax offset because you adopt a child, you might also be entitled to an offset if the child was in your care before the adoption.

Table of sections

Entitlement to a first child tax offset

61-355      Who is entitled to a tax offset under this section

61-360      What is a child event?

61-365      First child only

61-370      Another carer with entitlement for another child

61-375      Selection rules

61-380      Special rules for death of first child

Transferring an entitlement

61-385      You may transfer your entitlement to a tax offset

61-390      Transfer is irrevocable

61-395      Transferor is not entitled to tax offset

61-400      Transferee is entitled to tax offset

Claiming a first child tax offset

61-405      How to claim a tax offset for a child

61-410      Claim is irrevocable

Amount of a first child tax offset

61-415      Formula for working out amount of tax offset

61-420      Component of formula--entitlement amount

61-425      Component of formula--total of the entitlement days

61-430      What is your base year?

Additional tax offset if a child is in your care before you legally adopt the child

61-440      Additional tax offset if a child is in your care before you legally adopt the child

61-445      When a child is first in your care

61-450      What is your base year if a child is in your care before you legally adopt the child?

61-455      Old Subdivision applies if you would be worse off

Entitlement to a first child tax offset



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