Document ID: chunk:federal_register_of_legislation:C2005A00029:clause:1_1
Version: federal_register_of_legislation:C2005A00029
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 3117–4162

1  Subclauses 29(1) and (2) of Schedule 1
Repeal the subclauses, substitute:

 (1) The individual's Part B rate is the amount worked out by adding the following amounts if the individual is not a member of a couple:
 (a) the individual's standard rate under Division 2 (clauses 30 and 31);
 (b) the individual's FTB Part B supplement under Division 2A (clause 31A).

 (2) The individual's Part B rate is worked out using the following method statement if the individual is a member of a couple:

      Method statement
           Step 1. Add the following amounts:

                (a) the individual's standard rate under Division 2 (clauses 30 and 31);
                (b) the individual's FTB Part B supplement under Division 2A (clause 31A).

            The result is the individual's maximum rate.
           Step 2. Work out the individual's reduction for adjusted taxable income using Division 3 (clauses 32 and 33).
           Step 3. The individual's Part B rate is the maximum rate less the reduction for adjusted taxable income.