15Simplified outline of this Part

15 Simplified outline of this Part

A parent entity’s charge payable for a financial year can be offset by any eligible expenditure that members of the parent entity’s service group have for the financial year.

To be entitled to an offset, the service group must have new eligible expenditure for the financial year in relation to at least 8 different news business corporate groups.

Eligible expenditure is consideration provided to registered news businesses:

(a) for the production, or to support the production, by the news businesses of news content; or

(b) in connection with news content produced by the news businesses being made publicly available online by the service group.

As a transitional measure, consideration for the benefit of news businesses can also be eligible expenditure for financial years near the commencement of this Act.

Consideration provided to a news business that is a small or medium business is given a higher rate when working out the offset.

The offset is non‑refundable, but if the parent entity is entitled to an offset for the current financial year, any excess eligible expenditure can be carried forward to a later financial year.