PART 8
-
REBATE FOR LOW INCOME AGED PERSONS AND PENSIONERS AND REBATE IN RESPECT OF CERTAIN BENEFITS
History
Pt 8 heading substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 1, effective 1 July 2012. The heading formerly read:
PART 8
-
REBATE FOR LOW INCOME AGED PERSONS AND IN RESPECT OF CERTAIN PENSIONS AND BENEFITS
Pt 8, formerly Pt VII, inserted and renumbered by SR No 192 of 1990.
Division 1A
-
Rebate under sections 160AAAA and 160AAAB of the Act
History
Div 1A inserted by SR No 148 of 1997.
REGULATION 150AB
ELIGIBILITY
-
AMOUNT OF REBATE INCOME
150AB(1)
For subsection
160AAAA(3)
or
160AAAB(3)
of the Act, the amount mentioned is:
rebate amount
0.125
|
+ |
taxpayer
'
s rebate
threshold
|
History
Reg 150AB(1) substituted by SR No 45 of 2002 and amended by SR No 107 of 2001.
150AB(2)
A taxpayer
'
s
rebate amount
for a year of income is the amount in the relevant item in the following table:
Table
Table
|
Item
|
Class of person
|
Rebate amount
|
| 1 |
Single person |
$2
230 |
| 2 |
Member of a couple |
$1
602 |
| 3 |
Member of an illness-separated couple |
$2
040 |
History
Reg 150AB(2) substituted by SR No 45 of 2002.
150AB(2A)
(Repealed by SLI No 167 of 2006)
History
Reg 150AB(2A) repealed by SLI No 167 of 2006, reg 3 and Sch 1 item 2, effective 1 July 2006. Reg 150AB(2A) formerly read:
150AB(2A)
For subregulation (2):
member of a couple
means a person (other than a member of an illness-separated couple) who, at any time in the year of income, was the spouse of another person.
member of an illness-separated couple
means a person who, at any time in the year of income:
(a)
is entitled to receive an illness-separated-rate social security pension or illness-separated-rate service pension; or
(b)
is the spouse of another person from whom the spouse is separated in circumstances in which, if the spouse was otherwise entitled to receive a partnered-rate social security pension, the spouse would be entitled to receive an illness-separated-rate social security pension.
single person
means a person who, at any time in the year of income is not the spouse of another person.
Reg 150AB(2A) substituted by SR No 45 of 2002, amended by SR No 107 of 2001, SR No 81 of 2001 and inserted by No 60 of 1999.
150AB(2B)
If, in a year of income, more than one item in the table in subregulation (2) applies to a taxpayer, the taxpayer
'
s rebate amount is the amount that gives the taxpayer the greatest rebate entitlement.
150AB(3)
If subregulation (3A) does not apply, a taxpayer
'
s
rebate threshold
for a year of income is the amount calculated using the formula:
where:
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section
159N
of the Act.
F
is the taxpayer
'
s rebate amount for the year of income.
Note:
The rebate amount is worked out in accordance with subregulations (2) and (2B), but may then be affected by regulation
150AE
or
150AF
.
C
is the lowest marginal tax rate.
Note:
For
lowest marginal tax rate
and
tax-free threshold
-
see regulation
148
.
History
Reg 150AB(3) amended by SLI No 174 of 2012, reg 3 and Sch 1 item 1, by substituting definition of
"
F
"
, effective 1 July 2012. The definition formerly read:
F
is the taxpayer
'
s rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).
Reg 150AB(3) and (3A) substituted for reg 150AB(3) by SLI No 167 of 2006, reg 3 and Sch 1 item 3, effective 1 July 2006. Reg 150AB(3) formerly read:
150AB(3)
For this regulation, a
rebate threshold
for a year if income is worked out using the following table:
where:
A
is the threshold at the upper conclusion of the lowest marginal tax rate.
B
is the rate that would be the lowest marginal tax rate, if not for the rate mentioned in factor
C
.
C
is the lowest marginal tax rate.
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section
159N
of the Act.
F
, for a person, is the rebate amount mentioned in subregulation (2).
Note:
lowest marginal tax rate
and
tax-free threshold
are defined in regulation
148
.
Reg 150AB(3) substituted by SLI No 161 of 2005, reg 3 and Sch 1 item 1 (as amended by SLI No 195 of 2005, correcting a drafting error), applicable in relation to assessments of income for the income year 2005-2006 and later income years. Reg 150AB(3) formerly read:
150AB(3)
For this regulation, a
rebate threshold
for a year of income is:
where:
low income rebate amount
means the maximum amount of rebate allowable under section
159N
of the Act.
History
Definition of
"
low income rebate amount
"
inserted by SR No 107 of 2001.
"rebate amount"
has the meaning given by subregulation (2).
History
Definition of
"
rebate amount
"
amended by SR No 45 of 2002 and amended by No 60 of 1999.
[
Note:
"
lowest marginal tax rate
"
and
"
tax-free threshold
"
are defined in regulation
148
.]
Reg 150AB(3) amended by SR No 107 of 2001.
150AB(3A)
If the taxpayer
'
s rebate threshold, if it were calculated using the formula in subregulation (3), would be an amount that is greater than the amount at which the rebate of tax under section
159N
of the Act is reduced, the taxpayer
'
s
rebate threshold
for a year of income is the amount calculated using the formula:
| |
(C
×
D) + E + F + G (H + I
−
C) |
|
| |
H + I |
|
where:
C
is the lowest marginal tax rate.
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section
159N
of the Act.
F
is the taxpayer
'
s rebate amount for the year of income.
Note:
The rebate amount is worked out in accordance with subregulations (2) and (2B), but may then be affected by regulation
150AE
or
150AF
.
G
is the amount at which the rebate of tax under section
159N
of the Act is reduced.
H
is the rate at which the rebate of tax under subsection
159N(2)
of the Act is reduced, expressed as a decimal fraction.
I
is the second lowest marginal tax rate, expressed as a decimal fraction.
Note:
For
lowest marginal tax rate
and
tax-free threshold
-
see regulation
148
.
History
Reg 150AB(3A) amended by SLI No 174 of 2012, reg 3 and Sch 1 item 2, by substituting definition of
"
F
"
, effective 1 July 2012. The definition formerly read:
F
is the taxpayer
'
s rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).
Reg 150AB(3A) substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 7, effective 1 July 2012. Reg 150AB(3A) formerly read:
150AB(3A)
If the taxpayer
'
s rebate threshold, if it were calculated using the formula in subregulation (3), would be an amount that is greater than the amount at which the rebate of tax under section
159N
of the Act is reduced, the taxpayer
'
s
rebate threshold
for a year of income is the amount calculated using the formula:
| |
(C
×
D) + E + F + (G
×
0.04) |
|
| |
C + 0.04 |
|
where:
C
is the lowest marginal tax rate.
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section
159N
of the Act.
F
is the taxpayer
'
s rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).
G
is the amount at which the rebate of tax under section
159N
of the Act is reduced.
Note
For
lowest marginal tax rate
and
tax free threshold
, see regulation
148
.
Reg 150AB(3A) substituted by SLI No 136 of 2010, reg 5 and Sch 3 item 1, effective 1 July 2010. Reg 150AB(3A) formerly read:
150AB(3A)
If:
(a)
a taxpayer is a single person; and
(b)
the taxpayer
'
s rebate threshold, if it were calculated using the formula in subregulation (3), would be an amount that is greater than the threshold at the upper conclusion of the lowest marginal tax rate;
the taxpayer
'
s
rebate threshold
for a year of income is the amount calculated using the formula:
| ( |
(
(A
×
B)
−
C(A
−
D) + E + 0.04
×
A + F
) |
) |
| |
0.34 |
|
where:
A
is the threshold at the upper conclusion of the lowest marginal tax rate.
B
is the rate that would be the lowest marginal tax rate, if not for the rate mentioned in factor
C
.
C
is the lowest marginal tax rate.
D
is the tax-free threshold.
E
is the maximum amount of rebate allowable under section 159N of the Act.
F
is the taxpayer
'
s rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).
Note:
For
lowest marginal tax rate
and
tax-free threshold
-
see regulation 148.
Reg 150AB(3) and (3A) substituted for reg 150AB(3) by SLI No 167 of 2006, reg 3 and Sch 1 item 3, effective 1 July 2006.
150AB(4)
If an amount worked out under subregulation (1), (2), (3) or (3A) is not an amount of whole dollars, the amount must be rounded up to the nearest whole dollar.
History
Reg 150AB(4) amended by SLI No 167 of 2006, reg 3 and Sch 1 item 4, by substituting
"
subregulation (1), (2), (3) or (3A)
"
for
"
subregulation (1), (2) or (3)
"
, effective 1 July 2006.
Reg 150AB inserted by SR No 148 of 1997.
150AB(5)
In this regulation:
illness separated couple
has the same meaning as in subsection
4(7)
of the
Social Security Act 1991
.
member of a couple
has the same meaning as in:
(a)
the
Social Security Act 1991
; or
(b)
the
Veteran
'
s Entitlements Act 1986
.
single person
means a person who, at any time in the year of income, is not the spouse of another person.
History
Reg 150AB(5) substituted by SLI No 91 of 2012, reg 3 and Sch 1 item 8, effective 1 July 2012. Reg 150AB(5) formerly read:
150AB(5)
In this regulation:
member of a couple
means a person (other than a member of an illness-separated couple) who, at any time in the year of income, was the spouse of another person.
member of an illness-separated couple
means a person who, at any time in the year of income:
(a)
is entitled to receive an illnesss-separated-rate social security pension or illness-separated-rate service pension; or
(b)
is the spouse of another person from whom the spouse is separated in circumstances in which, if the spouse was otherwise entitled to receive a partnered-rate social security pension, the spouse would be entitled to receive an illness-separated-rate social security pension.
single person
means a person who, at any time in the year of income is not the spouse of another person.
Reg 150AB(5) inserted by SLI No 167 of 2006, reg 3 and Sch 1 item 5, effective 1 July 2006.
Reg 150AB inserted by SR No 148 of 1997.
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