Document ID: chunk:federal_register_of_legislation:C2025C00162:section:1073aa:p2
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 1073AA (pt 2/3)
Character Range: 2060436–2063144

unused concession balance (see section 1073AB) is greater than nil but less than the amount of the person's work bonus income that remains after applying subsection (2) of this section in relation to an instalment period:
 (a) for the purposes of Module E of that Rate Calculator, the person's work bonus income for that period is further reduced by an amount equal to that unused concession balance; and
 (b) if the person's rate of social security pension for that period is greater than nil—the person's unused concession balance is reduced to nil.
Example: Bill has $1,300 of work bonus income in an instalment period of 14 days. Bill's rate of social security pension for that period is greater than nil.
 Under subsection (2), Bill's work bonus income for that period is reduced by $300, leaving Bill $1,000 of work bonus income for that period.
 Assume Bill's unused concession balance is $800.
 Under subsection (4), Bill's work bonus income for that period is further reduced by $800 leaving Bill $200 of work bonus income for that period.
 Bill's unused concession balance is now nil.

Work bonus income less than income concession amount
 (4A) If the person has work bonus income for an instalment period but that income is less than the income concession amount for that period:
 (a) for the purposes of Module E of that Rate Calculator, the person's work bonus income for that period is reduced to nil; and
 (b) if the person's rate of social security pension for that period is greater than nil—the person's unused concession balance (see section 1073AB) is increased, subject to subsection 1073AB(2), by an amount equal to the difference between that income concession amount and that work bonus income (before it was reduced).
Note: For work bonus income, see subsection (4BA).
Example: Emma has $100 of work bonus income in an instalment period of 14 days. Emma's rate of social security pension for that period is greater than nil.
 Emma's work bonus income for that period is reduced to nil.
 Emma's unused concession balance is increased by $200.

No work bonus income
 (4B) If:
 (a) the person has no work bonus income for an instalment period; and
 (b) the person's rate of social security pension for that period is greater than nil;
the person's unused concession balance (see section 1073AB) is increased, subject to subsection 1073AB(2), by an amount equal to the income concession amount for that period.
Note: For work bonus income, see subsection (4BA).

Definitions
 (4BA) For the purposes of this section, a person's work bonus income for an instalment period is the sum of the following:
 (a) the person's employment income taken, in accordance with Division 1AA, to have been