Document ID: chunk:federal_register_of_legislation:C2025C00162:section:6:p4
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 6 (pt 4/7)
Character Range: 1801195–1803911

this Module; and
 (b) the person gives the Secretary an estimate of the person's combined parental income under Submodule 4 for the tax year following the base tax year; and
 (c) the person requests the Secretary to make a determination under this point; and
 (d) the person agrees that the person's rate of youth allowance is to be recalculated if the person's actual combined parental income for that tax year exceeds the amount that the person estimated;
the Secretary must determine that, for the purpose of applying this Module to the person in respect of a youth allowance payment period that ends on or after:
 (e) the day on which the request is made; or
 (f) 1 January in a year;
whichever day is later, the appropriate tax year is the tax year following the base tax year.

Form of request
 1067G‑F9 A request under point 1067G‑F8 must be made in writing in accordance with a form approved by the Secretary.

Submodule 4—Combined parental income

Combined parental income
 1067G‑F10 For the purposes of this Module, a person's combined parental income for a particular tax year is the sum of the following amounts (income components) in respect of each of the person's parents:
 (a) the parent's taxable income for that year, disregarding each parent's assessable FHSS released amount (within the meaning of the Income Tax Assessment Act 1997) for that year;
 (b) the parent's adjusted fringe benefits total for that year;
 (c) the parent's target foreign income for that year;
 (d) the parent's total net investment loss for that year;
 (da) the parent's tax free pensions or benefits for that year (worked out in accordance with clause 7 of Schedule 3 to the Family Assistance Act);
 (e) the parent's reportable superannuation contributions (within the meaning of the Income Tax Assessment Act 1997) for that year.
Note 2: For taxable income see subsection 23(1).
Note 3: For adjusted fringe benefits total see subpoint 1067G‑F11(2).
Note 4: For target foreign income see subpoint 1067G‑F11(3).
Note 5: For total net investment loss, see subsection 10B(2).

Income components for tax year
 1067G‑F11(1) A parent's taxable income for a tax year is:
 (a) the parent's assessed taxable income for that year; or
 (b) if the parent does not have an assessed taxable income for that year—the accepted estimate, in respect of the parent, of taxable income for that year.
1067G‑F11(2) A parent's adjusted fringe benefits total for a tax year is the amount worked out using the formula:
where:
other employer fringe benefits total is the amount that is the sum of the following:
 (a) each of the parent's reportable fringe benefits amounts for the tax year under section 135P of the Fringe Benefits Tax Assessment