Document ID: chunk:federal_register_of_legislation:C2004A04148:body:0:p52
Version: federal_register_of_legislation:C2004A04148
Segment Type: other
Provision Reference: 
Character Range: 153071–155984

52t (3) (e):

  Omit "$92,250", substitute "$98,625".

Subsection 52t (3) (Note):

  Add at the end "(see section 59j)".

SCHEDULE 5—continued

Paragraph 52u (2) (e):

  Omit "$92,250", substitute "$98,625".

Subsection 52u (2) (Note):

  Add at the end "(see section 59j)".

Section 53b (Fringe Benefits Income Test Calculator):

  Omit the Calculator, substitute:

FRINGE BENEFITS INCOME TEST CALCULATOR

"53b-1. This is how to work out whether a person satisfies the fringe benefits income test:

Method statement
Step 1.           Work out the amount of the person's ordinary income on an annual basis.
Step 2.           Work out the person's fringe benefits income using points 53b-2 to 53b-11 below.
Step 3.           Work out the person's fringe benefits income free area using point 53b-12 below.
Step 4.           Compare the fringe benefits income with the fringe benefits income free area: if the person's fringe benefits income does not exceed the person's fringe benefits income free area, the person satisfies the fringe benefits income test.

Fringe benefits income of person without dependent children

"53b-2. If a person has no dependent children, the person's fringe benefits income is the person's annual rate of ordinary income.

Fringe benefits income of person with dependent child or children

"53b-3. Subject to point 53b-4, if a person has a dependent child or dependent children, the person's fringe benefits income is worked out using Table B-l.

  Fringe benefits income of widows and non-illness separated wives

"53b-4. If:

  (a)     a person is receiving wife service pension; and

    (b)     her rate of wife service pension is calculated under section 44 (Service Pension Rate Calculator for Widows and Non-illness Separated Wives); and

  (c)     she is a member of a couple; and

    (d)     her partner is receiving an age service pension or invalidity service pension; and

SCHEDULE 5—continued

     (e) the partner's service pension rate includes a child add-on for a child or child add-ons for children;

the person's fringe benefits income is the person's annual rate of ordinary income less $156.

   Note: a woman's rate of wife service pension may be calculated under the Service Pension Rate Calculator for Widows and Non-illness Separated Wives, and she may also be a member of a couple. This situation arises if she has entered a de facto relationship since she was widowed or separated.

Effect of certain child payments on widows and non-illness separated wives

  "53b-5. If:

    (a)     a person's fringe benefits income is calculated under point 53b-4; and

    (b)     the person's partner receives a payment for or in respect of a child of the partner (other than a payment referred to in point 53b-9);

the amount of $156 referred to in point 53b-4 is reduced by 50% of the annual amount of that payment.

How to calculate fringe benefits income under