Document ID: chunk:federal_register_of_legislation:C2010A00065:clause:1_64ad:p2
Version: federal_register_of_legislation:C2010A00065
Segment Type: clause
Provision Reference: sch 1 cl 64AD (pt 2/2)
Character Range: 40081–41681

the purposes of subsection (2)
 (4) For the purposes of subsection (2), the amount for each income election is worked out using the following method:

      Method statement
           Step 1. Subtract the parent's estimated ATI amount from the parent's determined ATI.
           Step 2. Divide the result by the total number of days in the application periods for each income election relating to the year of income that was made by the parent. The result is the additional daily rate.
           Step 3. For each of those income elections, multiply the additional daily rate by the number of days in the application period for the income election. The result is the underestimated amount for the income election.
           Step 4. For each of those income elections, add the underestimated amount for the income election and:

                (a) if the income election had an application period that ended before the last day of the year of income—the amount worked out for the income election under step 2 of the method statement in subsection (3); or
                (b) otherwise—the partial year income amount worked out under subsection 62A(1) for the income election.

           Step 5. For each of those income elections:

                (a) divide the result of step 4 by the number of days in the application period for the income election; and
                (b) multiply the quotient by 365.

Income amount orders
 (5) This section does not apply if an income amount order applies in relation to the parent and any part of an application period for any of the income elections.