A New Tax System (Family Assistance) Act 1999

Sch 4 (heading) note amended by No 63 of 2008, s 3 and Sch 1 item 4, by substituting " 85 " for " 75 " in the note, effective 1 July 2008.

Sch 4 Pt 4 repealed by No 47 of 2016, s 3 and Sch 5 item 8, effective 6 May 2016. Sch 4 Pt 4 formerly read:

Part 4 - Transitional indexation provisions

SECTION 8 8 Transitional indexation of amounts used to calculate family assistance rates  
8
(Repealed by No 108 of 2006)

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Sch 4 cl 8 repealed by No 108 of 2006, s 3 and Sch 8 item 39, effective 27 September 2006. clause 8 formerly read:

8 Transitional indexation of amounts used to calculate family assistance rates  
(1)
If the Secretary determines in writing, for the purposes of this Act, a higher amount in substitution for an amount set out in the following table, the higher amount is taken, from the commencement of this clause, to be substituted for the amount so set out.

Transitional Indexation Table
	Provision	Amount specified in
1	section 58	subsection (2)
2	Schedule 1 (clause 7)	items 1 to 3 of the table
3	Schedule 1 (clause 13)	subparagraph (1)(f)(i), (ii), (iii) or (iv)
3A	Schedule 1 (clause 13)	subparagraph (1)(fa)(i), (ii), (iii) or (iv)
4	Schedule 1 (clause 14)	table
4A	Schedule 1 (clause 14A)	table
5	Schedule 1 (clause 22)	column 2 or 3 in table
6	Schedule 1 (clause 26)	paragraph 2 (a)
7	Schedule 1 (clause 30)	table column 2
8	Schedule 1 (clause 35)	formula
9	Schedule 1 (clause 37)	paragraph (a) or (b)
10	Schedule 2 (clause 4)	item 1 in table in subclause (1)
11	Schedule 2 (clause 6)	subclause (2)
12	Schedule 2 (clause 6)	subclause (3)
13	Schedule 2 (clause 12)	amount in the numerator in the formula

(2)
A determination under subclause (1) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 .

Sch 4 cl 8(1) amended by No 45 of 2000. For transitional provisions see note under s 3A. Table item 3 formerly read:

3 … Schedule 1 (clause 13) … subparagraph (1)(f)(i), (ii) or (iii)

9 Adjustment of amounts following 10% increase to maximum rent assistance amounts  
(1)
This clause applies to modify the way an amount specified in column 3 of the table in clause 14 or 14A of Schedule 1 (the maximum rent assistance amount ) is indexed under Part 2 of this Schedule for a limited period after 19 March 2001. Method statement

Step 1.

Work out the current figure for the maximum rent assistance amount on 19 March 2001.

Step 2.

Multiply the current figure by 0.02. The result is the provisional overall adjustment amount .

Step 3.

Round off the provisional overall adjustment amount in accordance with subclauses (2) to (4). The result is the overall adjustment amount .

Step 4.

For the first indexation day for the maximum rent assistance amount that occurs after 19 March 2001, subtract the current figure for the amount from the indexed amount (arrived at using the method statement in subclause 4(2)). The result (which could be zero) is the first indexation increase amount .

Step 5.

Compare the overall adjustment amount with the first indexation increase amount. If the overall adjustment amount is equal to or less than the first indexation increase amount, go to step 6. If the overall adjustment amount is greater than the first indexation increase amount, go to step 7.

Step 6.

Subtract the overall adjustment amount from the indexed amount referred to in step 4. The result is taken to be the indexed amount for the purposes of step 4 of the method statement in subclause 4(2) and this clause has no further application in relation to the maximum rent assistance amount.

Step 7.

The indexed amount for the purposes of step 4 of the method statement in subclause 4(2) is taken to be equal to the current figure worked out under step 2 of that method statement. Go to step 8.

Step 8.

For the second indexation day for the maximum rent assistance amount that occurs after 19 March 2001, subtract the first indexation increase amount from the overall adjustment amount. The result is the remaining adjustment amount .

Step 9.

Subtract the current figure for the maximum rent assistance amount from the indexed amount (arrived at using the method statement in subclause 4(2). The result (which could be zero) is the second indexation increase amount .

Step 10.

Compare the remaining adjustment amount with the second indexation increase amount. If the remaining adjustment amount is equal to or less than the second indexation increase amount, go to step 11. If the remaining adjustment amount is greater than the second indexation increase amount, go to step 12.

Step 11.

Subtract the remaining adjustment amount from the indexed amount. The result is taken to be the indexed amount for the purposes of step 4 of the method statement in subclause 4(2) and this clause has no further application in relation to the maximum rent assistance amount.

Step 12.

The indexed amount for the purposes of step 4 of the method statement in subclause 4(2) is taken to be equal to the current figure worked out under step 2 of that method statement. Go to step 13.

Step 13.

Repeat the method set out in steps 8 to 12 in relation to the third indexation day and to subsequent indexation days until the remaining adjustment amount is zero.

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Sch 4 cl 9(1) amended by No 45 of 2000. For transitional provisions see note under s 3A.

(2) Rounding of provisional overall adjustment amounts  

If a provisional overall adjustment amount is a multiple of the rounding base for the maximum rent assistance amount (see column 5 of item 4 of the CPI Indexation Table in subclause 3(1)), the provisional overall adjustment amount is the overall adjustment amount.

(3)
If a provisional overall adjustment amount is not a multiple of the rounding base, the overall adjustment amount is the provisional overall adjustment amount rounded up or down to the nearest multiple of the rounding base.

(4)
If a provisional overall adjustment amount is not a multiple of the rounding base, but is a multiple of half the rounding base, the overall adjustment amount is the provisional overall adjustment amount rounded up to the nearest multiple of the rounding base.

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Sch 4 cl 9 inserted by No 68 of 1999.

10 Adjustment of indexation factor for certain amounts on and after 1 July 2013  
(1)
This clause applies to the following amounts:

(a) FTB child rate (A1);

(b) FTB child rate (A2);

(c) FTB standard rate (B);

(d) FTB standard ACO rate.

(2)
For each amount to which this clause applies, the indexation factor, worked out under clause 5 for each indexation day that is on or after 1 July 2013, is to be reduced by the brought forward indexation amount, but not below 1.

(3)
In this clause:

brought forward indexation amount
, in relation to an indexation day, means 0.007 less any reduction made under this clause for a previous indexation day.

Note:

Once the brought forward indexation amount becomes zero, there will be no further reduction of the indexation factor.

Example:

Assume that the indexation factor worked out under clause 5 on 1 July 2013 is 1.004. The brought forward indexation amount in relation to 1 July 2013 is 0.007 (as there has been no previous reduction). That indexation factor is reduced to 1 on 1 July 2013.

Further assume that on 1 July 2014 the indexation factor is 1.010. The brought forward indexation amount in relation to 1 July 2014 is 0.003. That indexation factor is reduced to 1.007 on 1 July 2014.

The brought forward indexation amount in relation to later indexation days is now zero so there is no further reduction of the indexation factor.

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Sch 4 cl 10 inserted by No 141 of 2011, s 3 and Sch 2 item 46, effective 12 May 2012.

11 Adjustment of indexation factor for certain amounts on and after 1 July 2014  
(1)
This clause applies to the following amounts:

(a) FTB gross supplement amount (A);

(b) FTB gross supplement amount (B).

(2)
For each amount to which this clause applies, the indexation factor, worked out under clause 5 for each indexation day (a reduction day ) that is on or after 1 July 2014, is to be reduced by the brought forward indexation amount, but not below 1.

(3)
In this clause:

brought forward indexation amount
, in relation to a reduction day, means 0.007 less:

(a) any reduction made under subclause 10(2) on 1 July 2013; and

(b) any reduction made under this clause for a previous reduction day.

Note:

Once the brought forward indexation amount becomes zero, there will be no further reduction of the indexation factor.

Example:

Assume that the indexation factor worked out under clause 5 on 1 July 2014 is 1.010 and that there was a reduction of 0.004 under subclause 10(2) on 1 July 2013.

The brought forward indexation amount in relation to 1 July 2014 is 0.003. The indexation factor worked out under clause 5 on 1 July 2014 is reduced to 1.007.

The brought forward indexation amount in relation to later reduction days is now zero so there is no further reduction of the indexation factor.

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Sch 4 cl 11 inserted by No 141 of 2011, s 3 and Sch 2 item 46, effective 12 May 2012.