A New Tax System (Family Assistance) Act 1999

Schedules

Schedule 1 - Family Tax Benefit Rate Calculator  

Part 5 - Common provisions  

Division 4 - Reduction for family tax benefit advance  

43   Part A rate insufficient to cover reduction - single family tax benefit advance  

(1)    
This clause applies if:

(a) under clause 5 or 25A , the individual ' s Part A rate is to be reduced to repay a family tax benefit advance (the unrepaid advance ); and

(b) the individual ' s Part A rate is not to be reduced under clause 5 or 25A to repay any other family tax benefit advance; and

(c) the amount by which the individual ' s Part A rate would be reduced under clause 5 or 25A to repay the unrepaid advance would exceed the amount of the individual ' s Part A rate before reduction (the unreduced Part A rate ), if the amount were worked out under clause 40 .

(2)    
Subject to clause 45 , the Secretary must determine that the number of days in the repayment period for the unrepaid advance is to be increased so that the individual ' s Part A rate is reduced under clause 5 or 25A by an amount that is no more than the individual ' s unreduced Part A rate.

(3)    
If the individual ' s unreduced Part A rate later exceeds the amount by which the individual ' s Part A rate would be reduced under clause 40 , the Secretary may determine that the number of days in the repayment period for the unrepaid advance is to be decreased.

(4)    
However, the amount by which the individual ' s Part A rate is to be reduced as a result of a determination under subclause (3) must be no more than the standard reduction.

Note:

The individual may also request that the Secretary determine a shorter or longer repayment period under clause 46 or 47 .