Document ID: chunk:federal_register_of_legislation:C2004A05083:schedule:1:p16
Version: federal_register_of_legislation:C2004A05083
Segment Type: schedule
Provision Reference: sch 1 (pt 16/18)
Character Range: 38338–40929

(the child) if the child was a dependant of the taxpayer during part only of the relevant period.

      (2) If the relevant period is the relevant part of the 1996-97 year of income, subsection 20C(1) has effect as if the amount of $500 referred to in that subsection were replaced by the amount worked out using the following formula.

      where:

      period of dependency means the number of days in the relevant period on which the child was a dependant of the taxpayer.

      (3) If the relevant period is the 1997-98 year of income or a later year of income, subsection 20C(2) has effect as if the amount of $1,000 referred to in that subsection were replaced by the amount worked out using the following formula:

      where:

      period of dependency means the number of days in the relevant period on which the child was a dependant of the taxpayer.

      (4) If the amount worked out under subsection (2) or (3) is an amount of dollars and cents, the amount is to be rounded up to the nearest whole dollar.

20T Taxpayer qualified under section 20D for part only of relevant period

      (1) This section has effect for the purposes of the application of section 20D in respect of a relevant period to a taxpayer if the taxpayer had, during part only of the relevant period, at least one dependant under the age of 5 years.

      (2) If the relevant period is the relevant part of the 1996-97 year of income, subsection 20D(1) has effect as if the amount of $1,250 referred to in that subsection were replaced by the amount worked out using the following formula: .

      where:

      period of dependency means the number of days in the relevant period on which the taxpayer had at least one dependant under the age of 5 years.

      (3) If the relevant period is the 1997-98 year of income or a later year of income, subsection 20D(2) has effect as if the amount of $2,500 referred to in that subsection were replaced by the amount worked out using the following formula:

      where:

      period of dependency means the number of days in the relevant period on which the taxpayer had at least one dependant under the age of 5 years.

      (4) If the amount worked out under subsection (2) or (3) is an amount of dollars and cents, the amount is to be rounded up to the nearest whole dollar.

20U Provision applying where family tax payments received under Social Security Act

      (1) In this section:

      section 20C tax-free threshold increase means the amount (if any) by which the amount of $5,400 in column 1 of the table in clause 1 of Part 1 of