Document ID: chunk:federal_register_of_legislation:F2023C00945:reg:12d
Version: federal_register_of_legislation:F2023C00945
Segment Type: reg
Provision Reference: reg 12D
Character Range: 19429–20715

12D  Notices relating to income (including foreign‑sourced income)
 (1) A notice under subsection 23ED(3) of the Act relating to a person's income for an income year must contain:
 (a) the person's name; and
 (b) the person's date of birth; and
 (c) the person's country of residence; and
 (d) the person's occupation; and
 (e) the amount of the person's income (including foreign‑sourced income) for the income year; and
 (f) the method used to work out that foreign‑sourced income; and
 (g) if the overseas assessed method was used—the person's identification number used for tax purposes by the taxation authority of a foreign country that made the assessment of the person's income.
Note: The Overseas Debtors Repayment Guidelines provides for how to work out a person's foreign‑sourced income for an income year, including the overseas assessed method. It also provides how to convert a person's foreign‑sourced income into Australian currency.
 (2) However, paragraphs (1)(d) to (g) do not apply if:
 (a) the person's income (including foreign‑sourced income) for the income year does not exceed 25% of the minimum repayment income for the income year; and
 (b) the notice includes a declaration to that effect.
Note: Minimum repayment income is defined in section 6 of the Act.