Document ID: chunk:federal_register_of_legislation:C2004A04616:front:0:p11
Version: federal_register_of_legislation:C2004A04616
Segment Type: other
Provision Reference: 
Character Range: 25877–28737

a fringe benefit that is a car benefit, school fees benefit, health insurance benefit, loan benefit or housing benefit. However, if one of these kinds of benefits is an exempt benefit, it is not an assessable fringe benefit. For 'assessable fringe benefit' see section 10A.";

  (d) by inserting after point 1067-G14 the following points:

    Combined parental fringe benefits value

    "1067-G14A. If a person has only one means test parent and that parent does not have a partner, the person's combined parental fringe benefits value for the appropriate tax year is the sum of the values of all the assessable fringe benefits received by the parent in that tax year.

    Note 1: For 'means test parent' see points 1067-G4 to 1067-G7 above.
    Note 2: For 'appropriate tax year' see point 1067-G15 below.

     "1067-G14B. If a person has only one means test parent and that parent has a partner, the person's combined parental fringe benefits value for the appropriate tax year is the sum of:

        (a) the values of all the assessable fringe benefits received by the parent in that tax year; and

        (b) the values of all the assessable fringe benefits received by the parent's partner in that tax year.

     Note 1: For 'means test parent' see points 1067-G4 to 1067-G7 above.
     Note 2: For 'appropriate tax year' see point 1067-G15 below.

    "1067-G14C. If a person has 2 means test parents, the person's combined parental fringe benefits value for the appropriate tax year is the sum of the values of all the assessable fringe benefits received by both parents in that tax year.

    Note 1: For 'means test parent' see points 1067-G4 to 1067-G7 above.
    Note 2: For 'appropriate tax year' see point 1067-G15 below.

    Parental fringe benefits value free area

     "1067-G14D. The parental fringe benefits value free area is $1,000.00.

    Parental adjusted fringe benefits value

    "1067-G14E. If the person's combined parental fringe benefits value exceeds the free area, the person's parental adjusted fringe benefits value is the person's combined parental fringe benefits value less the free area.

    "1067-G14F. If the person's combined parental fringe benefits value does not exceed the free area, the person's parental adjusted fringe benefits value is nil.".

Family Payment Rate Calculator

6.(1) The Rate Calculator in section 1069 of the Principal Act is amended:

    (a) by omitting Step 4 from the Method statement in point 1069-A1 and substituting the following Step:

    "

           Step 4. Apply the family payment income test in Submodule 3 of MODULE H to work out whether the person satisfies the family payment income test.

           Note: If the person does not satisfy the family payment income test, family payment is not payable to the person.

           ";

   (b) by omitting Step 9 from the