Norfolk Island Legislation Amendment Act 2015 (59 of 2015)

Schedule 2   Final arrangements etc.

Part 2   Transitional provisions

Division 11   Adjusted taxable income etc.

387   Determination of tax-exempt Norfolk Island income if information and documents in designated official's possession are insufficient

Scope

(1) This item applies if the designated official does not possess sufficient information and documents to determine the person's tax-exempt Norfolk Island income for the period.

Determination

(2) The designated official may determine that the person's tax-exempt Norfolk Island income for the period is an amount that the designated official considers appropriate.

(3) However, if the determination is for the purposes of the Child Support (Assessment) Act 1989, the amount must be at least two-thirds of the annualised MTAWE figure for the relevant June quarter.

(4) In this item:

annualised MTAWE figure , for a relevant June quarter, means the figure that is 52 times the amount set out for the reference period in the quarter under the headings "Average Weekly Earnings - Trend - Males - All Employees Total Earnings" in a document published by the Australian Statistician entitled "Average Weekly Earnings, Australia".

quarter means a period of 3 months beginning on 1 July, 1 October, 1 January or 1 April.

relevant June quarter , for a period, means the quarter ending on 30 June of the last calendar year ending before the period begins.