Document ID: chunk:federal_register_of_legislation:F2024C01169:reg:17
Version: federal_register_of_legislation:F2024C01169
Segment Type: reg
Provision Reference: reg 17
Character Range: 11303–13298

17  Prescribed income test
 (1) For the purposes of paragraph 37B(4)(b) of the Act, a payer is taken to satisfy the income test in relation to the first instalment of a social security pension or a social security benefit paid to the payer after the day on which an application is made under subsection 37B(2) of the Act if:
 (a) if that instalment was paid in respect of a fortnight—the total of:
 (i) the amount of that instalment, less any non‑taxable additional amounts; and
 (ii) the amount of the payer's ordinary income for that fortnight;
  is not more than the highest maximum basic rate of pension for a fortnight under Table B of point 1064‑B1 in the Rate Calculator at the end of section 1064 of the Social Security Act 1991; or
 (b) if that instalment was paid in respect of a period of less than a fortnight—the total of:
 (i) the amount of that instalment, less any non‑taxable additional amounts; and
 (ii) the amount of the payer's ordinary income for that period;
  is not more than the amount calculated using the formula:

 (2) For the purposes of paragraph 37B(5)(b) of the Act, a payer is taken not to satisfy the income test in relation to an instalment of a social security pension or a social security benefit paid to the payer for a particular fortnight if:
 (a) if that instalment was paid in respect of a fortnight—the total of:
 (i) the amount of that instalment, less any non‑taxable additional amounts; and
 (ii) the amount of the payer's ordinary income for that fortnight;
  is more than the highest maximum basic rate of pension for a fortnight under Table B of point 1064‑B1 in the Rate Calculator at the end of section 1064 of the Social Security Act 1991; or
 (b) if that instalment was paid in respect of a period of less than a fortnight—the total of:
 (i) the amount of that instalment, less any non‑taxable additional amounts; and
 (ii) the amount of the payer's ordinary income for that period;
  is more than the amount calculated using the formula: