A New Tax System (Family Assistance) Act 1999

Schedules

Schedule 1 - Family Tax Benefit Rate Calculator  

Part 2 - Part A rate (Method 1)  

Division 5 - Maintenance income test  

Subdivision B - Maintenance income credit balances  

24B   Accruals to a maintenance income credit balance  
Accrual if conditions are satisfied

(1)    
There is an accrual to a maintenance income credit balance for a registered entitlement of an individual, for a day in an income year, of the amount worked out under clause 24C for that day, if all the conditions in this clause are satisfied.

Conditions that must be satisfied

(2)    
Either or both of the following must apply:

(a) the individual is eligible for family tax benefit for the day;

(b) if the individual is a member of a couple on the day - the individual ' s partner is eligible for family tax benefit for the day.

(3)    
The eligible person must have 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.

(4)    
The annualised amount of the maintenance income of the eligible person for the day must be less than the maintenance income free area that applied to the eligible person for that day.

(5)    
The maintenance income that the individual received in the income year from the registered entitlement must be less than the amount due in the income year from the registered entitlement.