Document ID: chunk:federal_register_of_legislation:C2024C00866:section:118zza:p1
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 118ZZA (pt 1/4)
Character Range: 1561329–1564078

118ZZA  Seniors Health Card Income Test Calculator
  The Seniors Health Card Income Test Calculator at the end of this section is to be used in working out whether a person satisfies the seniors health card income test for the purposes of this Act.

Seniors Health Card Income Test Calculator

Satisfying the seniors health card income test
118ZZA‑1 This is how to work out whether a person satisfies the seniors health card income test at a particular time (the test time).

      Method statement
           Step 1. Work out the amount of the person's adjusted taxable income for the reference tax year.
           Step 1A. If, at the test time, the person, or the person's partner (if any), has at least one long‑term financial asset (see point 118ZZA‑12), work out the person's deemed income amount under:

                (a) if, at the test time, the person is not a member of a couple—point 118ZZA‑10A; or
                (b) if, at the test time, the person is a member of a couple—point 118ZZA‑10B.

           Step 1B. Work out the sum of the amounts at step 1 and step 1A (if any).
           Step 2. Work out the person's seniors health card income limit using point 118ZZA‑11.
           Step 3. Work out whether the amount at step 1B exceeds the seniors health card income limit.
           Step 4. If the amount at step 1B is less than the person's seniors health card income limit, the person satisfies the seniors health card income test.
           Step 5. If the amount at step 1B is equal to or exceeds the person's seniors health card income limit, the person does not satisfy the seniors health card income test.

Reference tax year
        118ZZA‑2(1) In the ordinary case, a person's reference tax year is:
 (a) if the person has received a notice of assessment of his or her taxable income for the tax year immediately preceding the tax year in which the test time occurred—that immediately preceding tax year; or
 (b) otherwise—the tax year immediately preceding the tax year applicable under paragraph (a).
 (2) However, if the person has informed the Secretary in writing that the person wishes to have his or her entitlement to a seniors health card determined by reference to his or her adjusted taxable income for the tax year in which the test time occurred (the current tax year), the person's reference tax year is the current tax year.

Adjusted taxable income
        118ZZA‑3 For the purposes of this Division, a person's adjusted taxable income for a particular tax year is the sum of the following amounts (income components):
 (a) the person's taxable income for that year, disregarding the person's assessable FHSS released amount (within the meaning of the Income Tax Assessment Act 1997) for that year;