Document ID: chunk:federal_register_of_legislation:C2024C00866:section:46aa:p2
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 46AA (pt 2/3)
Character Range: 657635–660330

46AC) is greater than nil but less than the amount of the person's work bonus income that remains after applying subsection (2) of this section in relation to a pension period:
 (a) for the purposes of Module E of that Rate Calculator, the person's work bonus income for that period is further reduced by an amount equal to that unused concession balance; and
 (b) if the person's rate of service pension or income support supplement for that period is greater than nil—the person's unused concession balance is reduced to nil.
Example: Bill has $1,300 of work bonus income in a pension period. Bill's rate of service pension or income support supplement for that period is greater than nil.
 Under subsection (2), Bill's work bonus income for that period is reduced by $300, leaving Bill $1,000 of work bonus income for that period.
 Assume Bill's unused concession balance is $800.
 Under subsection (4), Bill's work bonus income for that period is further reduced by $800 leaving Bill $200 of work bonus income for that period.
 Bill's unused concession balance is now nil.

Work bonus income less than income concession amount
 (4A) If the person has work bonus income for a pension period but that income is less than the income concession amount for that period:
 (a) for the purposes of Module E of that Rate Calculator, the person's work bonus income for that period is reduced to nil; and
 (b) if the person's rate of service pension or income support supplement for that period is greater than nil—the person's unused concession balance (see section 46AC) is increased, subject to subsection 46AC(2), by an amount equal to the difference between that income concession amount and that work bonus income (before it was reduced).
Note: For work bonus income, see subsection (4BA).
Example: Emma has $100 of work bonus income in a pension period. Emma's rate of service pension or income support supplement for that period is greater than nil.
 Emma's work bonus income for that period is reduced to nil.
 Emma's unused concession balance is increased by $200.

No work bonus income
 (4B) If:
 (a) the person has no work bonus income for a pension period; and
 (b) the person's rate of service pension or income support supplement for that period is greater than nil;
the person's unused concession balance (see section 46AC) is increased, subject to subsection 46AC(2), by an amount equal to the income concession amount for that period.
Note: For work bonus income, see subsection (4BA).

Definitions
 (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 received in that period;
 (b)