Document ID: chunk:federal_register_of_legislation:C2004A01294:clause:1_32m
Version: federal_register_of_legislation:C2004A01294
Segment Type: clause
Provision Reference: sch 1 cl 32M
Character Range: 27201–28992

32M  Relevant reconciliation time—target foreign income, tax free pension/benefit or child maintenance expenditure

 (1) This section applies to the first individual for a same‑rate benefit period if any of the following were taken into account in working out the first individual's adjusted taxable income for the relevant income year:
 (a) the first individual's target foreign income for the relevant income year (as defined by clause 5 of Schedule 3 to the Family Assistance Act);
 (b) the first individual's tax free pension or benefit for the relevant income year (as defined by clause 7 of Schedule 3 to the Family Assistance Act);
 (c) the first individual's child maintenance expenditure for the relevant income year (as defined by clause 8 of Schedule 3 to the Family Assistance Act);
 (d) another individual's target foreign income for the relevant income year (as defined by clause 5 of Schedule 3 to the Family Assistance Act);
 (e) another individual's tax free pension or benefit for the relevant income year (as defined by clause 7 of Schedule 3 to the Family Assistance Act);
 (f) another individual's child maintenance expenditure for the relevant income year (as defined by clause 8 of Schedule 3 to the Family Assistance Act).

 (2) The relevant reconciliation time is whichever is the earlier of the following times:
 (a) the time after the end of the relevant income year when the first individual notifies the Secretary of the amount of the first individual's adjusted taxable income for the relevant income year;
 (b) the time after the end of the relevant income year when the Secretary becomes satisfied that the first individual's adjusted taxable income for the relevant income year can be worked out without receiving a notification from the first individual.