Document ID: chunk:federal_register_of_legislation:C2004C01310:clause:1_71
Version: federal_register_of_legislation:C2004C01310
Segment Type: clause
Provision Reference: sch 1 cl 71
Character Range: 107423–108075

71  Subsection 3(1) (definition of FTB advance rate)
Repeal the definition, substitute:

FTB advance rate, in relation to an individual, means:
 (a) unless paragraph (b) applies—half the amount that would, under clause 26 of Schedule 1, be the FTB child rate for an FTB child who had not turned 18 if:
 (i) the individual's Part A rate were required to be worked out using Part 3 of that Schedule; and
 (ii) clause 27 of that Schedule did not apply in respect of the child; or
 (b) if the amount per year that would be the FTB advance rate under paragraph (a) is not a multiple of $3.65—the amount per year that is the next highest multiple of $3.65.