Document ID: chunk:federal_register_of_legislation:C2013C00585:clause:1_1:p2
Version: federal_register_of_legislation:C2013C00585
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 2/2)
Character Range: 12809–14996

and
 (b) if the person's rate of social security pension for that period is greater than nil—the person's unused concession balance is reduced to nil.
Example: Bill earns $1,250 of employment income in an instalment period of 14 days. Bill's rate of social security pension for that period is greater than nil.
 Under subsection (2), Bill's employment income for that period is reduced by $250, leaving Bill $1,000 of employment income for that period.
 Assume Bill's unused concession balance is $800.
 Under subsection (4), Bill's employment income for that period is further reduced by $800 leaving Bill $200 of employment income for that period.
 Bill's unused concession balance is now nil.

Employment income less than income concession amount
 (4A) If the person has employment income for an instalment 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 employment income for that period is reduced to nil; and
 (b) if the person's rate of social security pension for that period is greater than nil—the person's unused concession balance (see section 1073AB) is increased, subject to subsection 1073AB(2), by an amount equal to the difference between that income concession amount and that employment income (before it was reduced).
Example: Emma earns $100 of employment income in an instalment period of 14 days. Emma's rate of social security pension for that period is greater than nil.
 Emma's employment income for that period is reduced to nil.
 Emma's unused concession balance is increased by $150.

No employment income
 (4B) If:
 (a) the person has no employment income for an instalment period; and
 (b) the person's rate of social security pension for that period is greater than nil;
the person's unused concession balance (see section 1073AB) is increased, subject to subsection 1073AB(2), by an amount equal to the income concession amount for that period.

Definition
 (4C) The income concession amount is:
 (a) for an instalment period of 14 days—$250; and
 (b) for an instalment period of less than 14 days—the amount worked out using the following formula: