Child Support Legislation Amendment (Reform of the Child Support Scheme - New Formula and Other Measures) Act 2006 (146 of 2006)
Schedule 8 Amendments relating to family tax benefit (commencing on 1 July 2008)
Part 1 Regular care children
Division 1 Amendments
A New Tax System (Family Assistance) Act 1999
80 Clause 31 of Schedule 1
Repeal the clause, substitute:
31 Sharing family tax benefit (shared care percentages)
(1) If:
(a) an individual has a shared care percentage for an FTB child of the individual; and
(b) the child is the individual's only FTB child;
the individual's standard rate is the individual's shared care percentage of the standard rate that would otherwise apply.
(2) If:
(a) an individual has a shared care percentage for an FTB child of the individual; and
(b) the child is not the individual's only FTB child;
the individual's standard rate is to be worked out as follows:
(c) for each of the individual's FTB children for whom the individual does not have a shared care percentage, work out the rate that would be the individual's standard rate under clause 30 if that child were the individual's only FTB child;
(d) for each of the individual's FTB children for whom the individual has a shared care percentage, work out the rate that would be the individual's standard rate under clause 30 if:
(i) that child were the individual's only FTB child; and
(ii) subclause (1) of this clause applied to the child;
(e) the individual's standard rate is the highest of the rates obtained under paragraphs (c) and (d).
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