Document ID: chunk:federal_register_of_legislation:C2010A00065:clause:1_60:p2
Version: federal_register_of_legislation:C2010A00065
Segment Type: clause
Provision Reference: sch 1 cl 60 (pt 2/2)
Character Range: 9473–11133

Method statement
           Step 1. Estimate each income component amount for the parent for the period (the remaining period):

                (a) starting on the start day for the election; and
                (b) ending at the end of the last day of the year of income.

           Step 2. Add up those amounts. The result is the partial year income amount.
           Step 3. Divide the partial year income amount by the number of days in the remaining period.
           Step 4. Multiply the quotient by 365.
 (5) The start day for the election must be:
 (a) the day on which the parent makes the election; or
 (b) the first day of a child support period, so long as that day is not before the day referred to in paragraph (a).

No election if an income amount order is in force
 (6) Despite subsection (1), a parent may not make an election if an income amount order is in force in relation to:
 (a) the parent; and
 (b) if the parent were to make such an election—any part of the period that would be the application period for the election.

How election is made
 (7) The parent makes the election under subsection (1) by giving notice of it to the Registrar in the manner specified by the Registrar.
 (8) The notice must specify:
 (a) the amount that applies under subsection (2) or (3); and
 (b) if subsection (2) applies—each of the income component amounts estimated by the parent under that subsection; or
 (c) if subsection (3) applies:
 (i) the day that is the start day for the election; and
 (ii) each of the income component amounts estimated by the parent under paragraph (3)(b) and under step 1 of the method statement in subsection (4).