Income Tax Assessment (1936 Act) Regulation 2015
For subsection 160AAAA(1) or 160AAAB(1) of the Act, the amount of the rebate is ascertained in accordance with subsection (2) of this section (as affected by section 12 of this instrument).
11(2)
The amount of the rebate is:
(a) the base rebate amount for the rebate; or
(b) if:
(i) in the case of a rebate under section 160AAAA - the rebate income of the taxpayer; or
exceeds the rebate threshold for the rebate - the base rebate amount for the rebate, reduced by 12.5 cents for each $1 of the amount of the excess.
(ii) in the case of a rebate under section 160AAAB - the rebate income of the beneficiary;
Note:
The base rebate amount and the rebate threshold may be affected by section 12 .
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