A NEW TAX SYSTEM (FAMILY ASSISTANCE) (ADMINISTRATION) ACT 1999 - SECT 35D Maximum amount of family tax benefit advance payable
A NEW TAX SYSTEM (FAMILY ASSISTANCE) (ADMINISTRATION) ACT 1999 - SECT 35D
Maximum amount of family tax benefit advance payable(1) Subject to subsection (2), the maximum amount of family tax benefit advance payable to the individual is set out in the following table:
Maximum amount of family tax benefit advance | ||
Item | If 7.5% of the individual's adjusted Part A rate is: | The individual's maximum amount of family tax benefit advance is: |
1 | greater than or equal to 23.3% of the standard rate for a child under 13 | 23.3% of the standard rate for a child under 13 |
2 | less than 23.3% and greater than 7.5% of the standard rate for a child under 13 | 7.5% of the individual's adjusted Part A rate |
3 | less than or equal to 7.5% of the standard rate for a child under 13 | 7.5% of the standard rate for a child under 13 |
Member of a couple in a blended family
(2) If a determination under section 28 of the Family Assistance Act that the individual is eligible for a percentage (the section 28 percentage ) of the family tax benefit for FTB children of the individual is in force, the maximum amount of family tax benefit advance payable to the individual is the section 28 percentage of the amount worked out for the individual under subsection (1).
(3) Amounts worked out under this section must be rounded to the nearest cent (rounding 0.5 cents upwards).
"adjusted Part A rate" , in relation to an individual, means the individual's Part A rate disregarding:
(a) clause 38A of Schedule 1 to the Family Assistance Act; and
(b) any reduction under clause 5 or 25A of that Schedule.
"standard rate" for a child under 13 means the FTB child rate for one FTB
child who is under 13 years of age worked out under clause 7 of
Schedule 1 to the Family Assistance Act (disregarding clauses 8
to 11 of that Schedule).