Document ID: chunk:federal_register_of_legislation:C2004A01294:clause:1_32l
Version: federal_register_of_legislation:C2004A01294
Segment Type: clause
Provision Reference: sch 1 cl 32L
Character Range: 25935–27201

32L  Relevant reconciliation time—child aged 16 or more

 (1) This section applies to the first individual for a same‑rate benefit period if the following conditions are satisfied in relation to another individual:
 (a) the other individual is aged 16 or more;
 (b) before the end of the relevant income year, the first individual gives the Secretary an estimate of the other individual's adjusted taxable income for the relevant income year;
 (c) assuming that the other individual had adjusted taxable income for the relevant income year that is less than the cut‑out mount (as defined by subsection 22A(2) of the Family Assistance Act), the other individual would be an FTB child of the first individual.

 (2) The relevant reconciliation time is whichever is the earlier of the following times:
 (a) the time after the end of the relevant income year when the first individual notifies the Secretary of the amount of the other individual's adjusted taxable income for the relevant income year;
 (b) the time after the end of the relevant income year when the Secretary becomes satisfied that the amount of the other individual's adjusted taxable income for the relevant income year can be worked out without receiving a notification from the first individual.