A New Tax System (Family Assistance) Act 1999
Schedules
Schedule 1 - Family Tax Benefit Rate CalculatorNote: See subsection 58(1) .
This is how to work out an individual ' s reduction for maintenance income if clause 19B does not apply: Method statement
Step 1.
Work out the annualised amount of the individual ' s maintenance income . In doing so:
Step 2.
Work out the individual ' s maintenance income free area using clauses 22 and 23.
Step 3.
Work out whether the individual ' s maintenance income exceeds the individual ' s maintenance income free area.
Step 4.
If the individual ' s maintenance income does not exceed the individual ' s maintenance income free area, the individual ' s maintenance income excess is nil and there is no reduction for maintenance income.
Step 5.
If the individual ' s maintenance income exceeds the individual ' s maintenance income free area, the individual ' s maintenance income excess is the individual ' s maintenance income less the individual ' s maintenance income free area.
Step 6.
The individual ' s reduction for maintenance income is half the maintenance income excess.
(2)
Paragraph (c) of step 1 of the method statement in subclause (1) does not apply unless and until the individual has satisfied the FTB reconciliation conditions in section 32B of the Family Assistance Administration Act for all of the same-rate benefit periods (within the meaning of that section) that are included in the income year for which the individual ' s reduction for maintenance income is being worked out.
(3)
(Repealed by No 48 of 2009)
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