Commonwealth Consolidated Regulations

INCOME TAX REGULATIONS 1936 - REG 150AB

         (1)   For subsection 160AAAA (3) or 160AAAB (3) of the Act, the amount mentioned is:

         (2)   A taxpayer's rebate amount for a year of income is the amount in the relevant item in the following table:

      (2B)   If, in a year of income, more than one item in the table in subregulation (2) applies to a taxpayer, the taxpayer's rebate amount is the amount that gives the taxpayer the greatest rebate entitlement.

         (3)   If subregulation (3A) does not apply, a taxpayer's rebate threshold for a year of income is the amount calculated using the formula:

where:

"D" is the tax-free threshold.

"E" is the maximum amount of rebate allowable under section 159N of the Act.

"F" is the taxpayer's rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).

"C" is the lowest marginal tax rate.

Note    For lowest marginal tax rate and tax‑free threshold -- see regulation 148.

      (3A)   If:

                (a)    a taxpayer is a single person; and

               (b)    the taxpayer's rebate threshold, if it were calculated using the formula in subregulation (3), would be an amount that is greater than the threshold at the upper conclusion of the lowest marginal tax rate;

the taxpayer's rebate threshold for a year of income is the amount calculated using the formula:

where:

"A" is the threshold at the upper conclusion of the lowest marginal tax rate.

"B is the rate that would be the lowest marginal tax rate, if not for the rate mentioned in factor C" .

"C" is the lowest marginal tax rate.

"D" is the tax-free threshold.

"E" is the maximum amount of rebate allowable under section 159N of the Act.

"F" is the taxpayer's rebate amount for the year of income, worked out in accordance with subregulations (2) and (2B).

Note    For lowest marginal tax rate and tax‑free threshold  -- see regulation 148.

         (4)   If an amount worked out under subregulation (1), (2), (3) or (3A) is not an amount of whole dollars, the amount must be rounded up to the nearest whole dollar.

         (5)   In this regulation:

"member of a couple " means a person (other than a member of an illness-separated couple) who, at any time in the year of income, was the spouse of another person.

member of an illness‑separated couple means a person who, at any time in the year of income:

                (a)    is entitled to receive an illness‑separated‑rate social security pension or illness‑separated‑rate service pension; or

               (b)    is the spouse of another person from whom the spouse
is separated in circumstances in which, if the spouse
was otherwise entitled to receive a partnered‑rate social security pension, the spouse would be entitled to receive an illness‑separated‑rate social security pension.

"single person" means a person who, at any time in the year of income is not the spouse of another person.