Document ID: chunk:federal_register_of_legislation:C2004A05083:schedule:1:p3
Version: federal_register_of_legislation:C2004A05083
Segment Type: schedule
Provision Reference: sch 1 (pt 3/18)
Character Range: 6876–9595

a resident during the 1997-98 year of income or a later year of income had, during that year of income, at least one dependant under the age of 5 years; and

          (b) the taxpayers' taxable income of that year of income was less than the taxpayers' income ceiling for that year of income; and

          (c) in respect of a taxpayer who had a spouse on the last day of that year of income—that spouse's taxable income of that year of income was less than the spouse income ceiling for that year of income;

      the amount of $5,400 set out in column 1 of the table in clause 1 of Part 1 of Schedule 7 is, for the purposes of the application of that Schedule to the taxpayer in respect of that year of income, in addition to any amount by which that amount of $5,400 is increased under section 20C, taken to be increased by $2,500.

      (3) In calculating the taxable income of a year of income of a taxpayers' spouse for the purposes of this section, any amount of Commonwealth pension, benefit or allowance included in that spouse's assessable income of that year of income is taken not to have been so included.

      (4) For the purposes of this section, the spouse income ceiling for a year of income is the amount worked out using the formula:

      Income ceiling of the breadwinner's partner x 26

      where:

      income ceiling of the breadwinner's partner means the amount per fortnight worked out under the Method statement in Table E of point 1070-E5 of the Rate Calculator at the end of section 1070 of the Social Security Act 1991.

      The reference in that table to the current maximum basic component of parenting allowance is a reference to the amount of that component on 21 March in the year of income.

      (5) In this section:

      Commonwealth labour market program means a program administered by the Commonwealth under which:

          (a) unemployed people are trained in skills to improve their prospects of obtaining employment; or

          (b) unemployed people are helped to obtain employment; or

          (c) employed people are trained in skills, or given other assistance, to help them in continuing to be employed by their current employer or in obtaining other employment.

      Commonwealth pension, benefit or allowance means any of the following payments:

          (a) a payment that is a rebatable benefit within the meaning of section 160AAA of the Assessment Act;

          (b) a payment that is a rebatable pension within the meaning of section 160AAA of the Assessment Act;

          (c) a non-subsidised payment by the Commonwealth of an allowance or reimbursement to, or to a person on behalf of, a participant in a Commonwealth labour market