FBT rate is the rate of tax set by the Fringe Benefits Tax Act 1986 for the FBT year (as defined in the Fringe Benefits Tax Assessment Act 1986 ) beginning on the 1 April just before the start of the tax year.

reportable fringe benefits total is the amount that the Secretary is satisfied is the parent's reportable fringe benefits total (as defined in the Fringe Benefits Tax Assessment Act 1986 ) for the year of income that is the tax year.

1067G-F11(3) A parent's target foreign income for a tax year is the accepted estimate of the amount of the parent's foreign income (as defined in section 10A) for the tax year that is not:

(a)

taxable income; or

(b)

received in the form of a fringe benefit (as defined in the Fringe Benefits Tax Assessment Act 1986 , as it applies of its own force or because of the Fringe Benefits Tax (Application to the Commonwealth) Act 1986 ) in relation to the parent as employee (as defined in the Fringe Benefits Tax Assessment Act 1986 ) and a year of tax.

After "income component" (first occurring), insert "or an amount described in subpoint 1067G-F11(3)".

After "income component" (second occurring), insert "or amount".

After "income component" (first occurring), insert "or an amount described in subpoint 1067G-F11(3)".

After "income component" (second occurring), insert "or amount".

Repeal the points.

Repeal the heading, substitute:

Repeal the sentence.

Omit "also".

Repeal the note.

Renumber as note 1.

Renumber as note 2.

The amendments made by this Schedule apply for the purposes of working out the rate of youth allowance for a youth allowance payment period that ends after the commencement of this Schedule.