Document ID: chunk:federal_register_of_legislation:C2010C00151:clause:1_60:p1
Version: federal_register_of_legislation:C2010C00151
Segment Type: clause
Provision Reference: sch 1 cl 60 (pt 1/2)
Character Range: 72989–75631

60  Choosing adjusted taxable income for remainder of child support period

Election that adjusted taxable income is estimated amount

 (1) Before or during a child support period, a parent may elect that the parent's adjusted taxable income for assessing the parent in respect of the costs of a child of the parent for the remaining days in a child support period is to be the amount the parent works out using the method in subsection (5) (with the modification in subsection (6), if appropriate).

Election prohibited if income amount order in force

 (2) However, a parent may not make an election relating to a child support period if an income amount order is in force in relation to the parent and any part of the period.

First election must be for amount less than adjusted taxable income for last relevant year of income

 (3) The parent may make a first election relating to a child support period only if the amount that he or she works out under this section is not more than 85% of the total of the parent's adjusted taxable income for the last relevant year of income for the child support period.

Other elections may be made at intervals of at least 2 months

 (4) The parent may make one or more later elections relating to the child support period at intervals of at least 2 months if:
 (a) the parent revokes the immediately preceding election under section 62 when making each later election; and
 (b) the amount worked out under this section for each later election is greater or less than the amount of the first election relating to the period.

Method of estimation of adjusted taxable income

 (5) The method is as follows:

      Method statement
           Step 1. Work out the length of the period (the remaining period):

                (a) starting on the day the parent makes the estimate or the day the child support period starts, whichever is later (or either day if they are the same); and
                (b) ending 15 months after the start of the child support period.

           Step 2. Estimate the amount that would be the parent's adjusted taxable income for the remaining period if that period were a year of income.
           Step 3. If the remaining period is shorter or longer than 12 months:

                (a) divide the total from step 2 by the number of days in the remaining period; and
                (b) multiply the quotient by 365.

Parent may treat remaining period as 12 months even if it is longer

 (6) If the remaining period is more than 12 months, the parent may apply the method in subsection (5) as if the remaining period were exactly 12 months, starting on the