Document ID: chunk:federal_register_of_legislation:C2019A00005:clause:2_42
Version: federal_register_of_legislation:C2019A00005
Segment Type: clause
Provision Reference: sch 2 cl 42
Character Range: 63663–64417

42  Before subsection 46AA(4C) (after the heading)
Insert:
 (4BA) For the purposes of this section, a person's work bonus income for a pension period is the sum of the following:
 (a) the person's employment income for that period;
 (b) the person's gainful work income for that period.
Note: For employment income, see section 46AB.
 (4BB) For the purposes of this section, a person's gainful work income for a pension 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 46ABA) undertaken by the person, being the annual amount as last determined by the Commission.