Family Assistance and Other Legislation Amendment (Schoolkids Bonus Budget Measures) Act 2012
52‑162 ETR payments are exempt52‑162 ETR payments are exempt
Start here
Get a plain-English read of 52‑162 ETR payments are exempt
Turn the raw legal text into a practical explanation grounded in Family Assistance and Other Legislation Amendment (Schoolkids Bonus Budget Measures) Act 2012.
52‑162 ETR payments are exempt
Payments under the scheme determined under Part 2 of Schedule 1 to the Family Assistance and Other Legislation Amendment (Schoolkids Bonus Budget Measures) Act 2012 are exempt from income tax.
10 At the end of section 61‑600
Add:
This tax offset is only available for income years ending before 1 July 2011.
11 Subsections 61‑610(1) and (2)
After “an income year”, insert “ending before 1 July 2011”.
12 Application
The amendments made by item 11 of this Schedule apply to assessments for the 2011‑2012 income year and later income years.
13 Section 67‑23 (table item 12)
After “Subdivision 61‑M”, insert “for income years ending before 1 July 2011”.