Document ID: chunk:federal_register_of_legislation:C2019A00005:clause:2_17
Version: federal_register_of_legislation:C2019A00005
Segment Type: clause
Provision Reference: sch 2 cl 17
Character Range: 54872–55775

17  Before subsection 1073AA(4C) (after the heading)
Insert:
 (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 for that period;
 (b) the sum of the person's gainful work income for each day in that period.
Note: For employment income, see section 8.
 (4BB) For the purposes of this section, a person's gainful work income for a day in an instalment period is the amount worked out using the following formula:
where:
annual amount means the annual amount of ordinary income of the person that is earned, derived or received by the person from gainful work (within the meaning of section 1073AAA) undertaken by the person, being the annual amount as last determined by the Secretary.
 (4BC) The amount at paragraph (4BA)(b) is to be rounded to the nearest cent (rounding 0.5 cents downwards).