Schedules
Schedule 1
-
Family Tax Benefit Rate Calculator
Note: See subsection
58(1)
.
Part 4
-
Part B rate
Division 2
-
Standard rate
31
Sharing family tax benefit (shared care percentage)
(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).
History
Sch 1 cl 31 substituted by No 146 of 2006, s 3 and Sch 8 item 80, effective 1 July 2008. Clause 31 formerly read:
31 Sharing family tax benefit (determination under subsection 59(1))
(1)
If:
(a)
the Secretary has determined under subsection 59(1) the percentage (the
specified percentage
) that is to be an individual
'
s percentage of family tax benefit 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 specified percentage of the standard rate that would otherwise apply.
(2)
If:
(a)
the Secretary has determined under subsection 59(1) the percentage that is to be an individual
'
s percentage of family tax benefit 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 who are not covered by a determination under subsection 59(1), 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 who are covered by a determination under subsection 59(1), 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).