Document ID: chunk:federal_register_of_legislation:C2013C00026:clause:6_916e
Version: federal_register_of_legislation:C2013C00026
Segment Type: clause
Provision Reference: sch 6 cl 916E
Character Range: 230248–232068

916E  The tax requirement

 (1) A person satisfies the tax requirement for an income year if the person's accepted taxable income for the income year is:
 (a) less than $18,000; or
 (b) $18,000 or more, but less than the person's LIS threshold amount for the income year.

Accepted taxable income

 (2) A person has an accepted taxable income for an income year if:
 (a) the Commissioner of Taxation has made an assessment of the person's taxable income for the income year; or
 (b) the Secretary accepts an estimate of the person's taxable income for the income year under subsection (3).

 (3) The Secretary may accept an estimate of a person's taxable income for an income year if:
 (a) the estimate is not more than the tax‑free threshold for the income year; and
 (b) the Secretary is satisfied that:
 (i) the estimate is reasonable; and
 (ii) the Commissioner of Taxation has not made an assessment of the person's taxable income for the income year; and
 (iii) the person has not lodged, and is not required under the Income Tax Assessment Act to lodge, an income tax return for the income year; and
 (c) if the estimate is $18,000 or more:
 (i) the person has provided the Secretary with an estimate of the person's eligible tax offsets (within the meaning of subsection (4)) for the income year; and
 (ii) the Secretary is satisfied that that estimate is reasonable.

LIS threshold amount

 (4) The LIS threshold amount for a person for an income year is worked out as follows:
where:

eligible tax offsets, for a person for an income year, means the person's tax offsets (if any) for the income year, disregarding any tax offset under section 159N of the Income Tax Assessment Act 1936 (tax offset for certain low income earners).

tax offset has the same meaning as in the Income Tax Assessment Act 1997.