Income Tax Assessment (1936 Act) Regulation 2015
PART 5
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REBATES
Division 1
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Tax rebate for low income aged persons and pensioners
SECTION 10
ENTITLEMENT TO REBATE
10(1)
For subsection 160AAAA(3) or 160AAAB(3) of the Act, the amount is ascertained in accordance with the following formula:
Rounding
10(2)
The amount worked out under subsection (1) must be rounded up to the nearest whole dollar, if the amount is not an amount of whole dollars.
For subsection 160AAAA(3) or 160AAAB(3) of the Act, the amount is ascertained in accordance with the following formula:
| Base rebate amount for the rebate | + Rebate threshold for the rebate | |
| 0.125 |
Rounding
10(2)
The amount worked out under subsection (1) must be rounded up to the nearest whole dollar, if the amount is not an amount of whole dollars.
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