A New Tax System (Family Assistance) Act 1999
Schedules
Schedule 1 - Family Tax Benefit Rate CalculatorNote: See subsection 58(1) .
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Hide history noteThis is how to work out an individual ' s reduction for adjusted taxable income if clause 38L does not apply to the individual: Method statement
Step 1.
Work out the individual ' s income free area using clause 38N .
Step 2.
Work out whether the individual ' s adjusted taxable income exceeds the individual ' s income free area.
Step 3.
If the individual ' s adjusted taxable income does not exceed the individual ' s income free area, the individual ' s income excess is nil.
Step 4.
If the individual ' s adjusted taxable income exceeds the individual ' s income free area, the individual ' s income excess is the individual ' s adjusted taxable income less the individual ' s income free area.
Step 5.
The individual ' s reduction for adjusted taxable income is 20% of the income excess.
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