Document ID: chunk:federal_register_of_legislation:C2025C00125:section:106q:p2
Version: federal_register_of_legislation:C2025C00125
Segment Type: section
Provision Reference: s 106Q (pt 2/3)
Character Range: 234800–237426

the sum of the amounts, so paid or assessed to be payable.
 (3) A reference in paragraph (2)(b) to an amount assessed under section 106T to be payable in respect of a person's accumulated HEC debt is, if the amount has been increased or reduced by an amendment of the relevant assessment, a reference to the increased or reduced amount (as the case may be).
 (4) For the purposes of this section:
 (a) the minimum prescribed amount or MPA for a year of income is:
 (i) for the 1997‑98 year of income—$20,700; or
 (ii) for a later year of income (other than the 2004‑05 year of income)—the amount worked out using the formula:
; or
 (iii) for the 2004‑05 year of income—$35,000;
 (b) the first intermediate prescribed amount for a year of income is:
 (i) for the 1997‑98 year of income—$21,830; or
 (ii) for a later year of income—the amount worked out using the formula:

 (c) the second intermediate prescribed amount for a year of income is:
 (i) for the 1997‑98 year of income—$23,524; or
 (ii) for a later year of income—the amount worked out using the formula:

 (d) the third intermediate prescribed amount for a year of income is:
 (i) for the 1997‑98 year of income—$27,288; or
 (ii) for a later year of income—the amount worked out using the formula:

 (e) the fourth intermediate prescribed amount for a year of income is:
 (i) for the 1997‑98 year of income—$32,934; or
 (ii) for a later year of income—the amount worked out using the formula:

 (f) the fifth intermediate prescribed amount for a year of income is:
 (i) for the 1997‑98 year of income—$34,665; or
 (ii) for a later year of income—the amount worked out using the formula:

 (g) the maximum prescribed amount for a year of income is:
 (i) for the 1997‑98 year of income—$37,262; or
 (ii) for a later year of income—the amount worked out using the formula:

 (4A) For the purposes of paragraph (4)(a), AWE for a year of income is the number of dollars in the sum of:
 (a) the average weekly earnings for all employees for the reference period in the December quarter immediately before the year of income, as published by the Australian Statistician; and
 (b) the average weekly earnings for all employees for the reference period in each of the 4 quarters immediately before that December quarter, as published by the Australian Statistician.
 (4B) If an amount worked out for the purposes of subsection (4) includes any cents, the cents must be disregarded.
 (5) For the purposes of subsection (4A), the reference period in a particular quarter in a year is the period described by the Australian Statistician as the pay period ending on