What is landcare expenditure, and why is there a landcare concession?LandCare Rebate
What is landcare expenditure, and why is there a landcare concession?
The Landcare concession comes in 2 flavours: Deduction or Offset
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If you are eligible to claim such a deduction, but you income is too low to allow you to benefit from such a claim, sec 388-55 and 60 of the 1977 Income Tax Assessment Act will allow you to claim a rebate of
34% of the landcare expenditure
up to a maximum of $5,000.Want more details? Refer paragraph 18-133 of the CCH Master Tax Guide
Individuals
Partners
Companies
Trusts (can not be transferred to beneficiaries)
if taxable income is less than $20,700.
The $20,700 is calculated by including the landcare expenditure in the deductions, even though it will be claimed as a rebate rather than a deduction.
34% of the landcare expenditure
up to a maximum of $5,000.
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