A New Tax System (Family Assistance) Act 1999

Schedules

Schedule 1 - Family Tax Benefit Rate Calculator  

Part 1 - Overall rate calculation process  

1   Overall rate calculation process  

(1)  
To work out an individual ' s annual rate of family tax benefit, add:


(a) the individual ' s Part A rate calculated under Part 2 (clauses 3 to 24S) , Part 3 (clauses 25 to 28 ) or Part 3A (clause 28A ); and


(b) the individual ' s Part B rate calculated under Part 4 (clauses 28B to 33).

(2)  
To work out the individual ' s Part A rate:


(a) use Part 2 (clauses 3 to 24S) if the individual has at least one FTB child and:


(i) the individual ' s adjusted taxable income does not exceed the individual ' s higher income free area; or

(ii) the individual, or the individual ' s partner, is receiving a social security pension, a social security benefit, a service pension, income support supplement or a veteran payment; and


(b) use Part 3 (clauses 25 to 28) if the individual has at least one FTB child and:


(i) the individual ' s adjusted taxable income exceeds the individual ' s higher income free area; and

(ii) neither the individual, nor the individual ' s partner, is receiving a social security pension, a social security benefit, a service pension, income support supplement or a veteran payment.


(c) use Part 3A (clause 28A) if the individual has no FTB children.

Use Schedule 3 to work out the individual ' s adjusted taxable income. Use clause 2 to work out the individual ' s higher income free area.




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