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Tax Laws Amendment (2008 Measures No. 2) Bill 2008

Schedule 4 Endeavour Research Fellowships and Executive Awards

   

Income Tax Assessment Act 1997

1  Section 11-15 (table item headed “education”)

After “ education ” (first occurring), insert “ and training ”.

2  Section 11-15 (table item headed “education”)

After:

CRAFT scheme, employer’s income from........................

51-10

insert:

Endeavour Awards, research fellowship under.................

51-10

Endeavour Executive Award...............................................

51-10

3  Section 11-15 (table item headed “student”)

Omit:

see education

 

substitute:

see education and training

 

4  Section 51-10 (at the end of the table)

Add:

2.5

a recipient of:

(a) a research fellowship under the Endeavour Awards; or

(b) an Endeavour Executive Award

the fellowship or award

none

5  Application

The amendments of the Income Tax Assessment Act 1997 made by items 2 and 4 of this Schedule apply in relation to fellowships and awards received in the 2007-08 income year and later income years.