Commonwealth Numbered Acts

FAMILIES, COMMUNITY SERVICES AND INDIGENOUS AFFAIRS AND OTHER LEGISLATION (2006 BUDGET AND OTHER MEASURES) ACT 2006 (NO. 82, 2006) - SCHEDULE 11

A New Tax System (Family Assistance) (Administration) Act 1999

1  Subsection 3(1) (definition of income tax refund )

Repeal the definition, substitute:

"income tax refund" means an amount payable to a person:

                     (a)  in respect of an overpayment of income tax imposed by the Income Tax Act 1986 ; or

                     (b)  in respect of an overpayment of Medicare levy payable in accordance with Part VIIB of the Income Tax Assessment Act 1936 ; or

                     (c)  in respect of an overpayment of an amount payable by the person by an assessment made under Part IV of the Income Tax Assessment Act 1936 because of:

                              (i)  subsection 106U(1) of the Higher Education Funding Act 1988 ; or

                             (ii)  section 154‑60 of the Higher Education Support Act 2003 ; or

                            (iii)  subsection 12ZN(1) of the Student Assistance Act 1973 ; or

                     (d)  as a refund of a tax offset that is subject to the refundable tax offset rules under Division 67 of the Income Tax Assessment Act.

2  Application of amendment

(1)        The amendment made by this Schedule applies in relation to a debt owed in respect of family tax benefit against which an income tax refund is to be applied, if the income tax refund is determined on or after 1 July 2002 (irrespective of the income year to which the refund relates or when the debt is determined).

(2)        The amendment made by this Schedule applies in relation to a debt owed in respect of child care benefit against which an income tax refund is to be applied, if both:

                     (a)  the debt is determined on or after 1 July 2006; and

                     (b)  the income tax refund is determined on or after 1 July 2007 (irrespective of the income year to which the refund relates).