Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Download] [Help]

A NEW TAX SYSTEM (FAMILY ASSISTANCE) ACT 1999 NO. 80, 1999 - SCHEDULE 4

- Indexation and adjustment of amounts
Note: See section 75.

Part 1—Preliminary

- SECT 1
Analysis of Schedule
This Schedule provides for:

(a)
the indexation, in line with CPI (Consumer Price Index) increases, of the amounts in column 1 of the table at the end of clause 3; and

(c)
the adjustment of other amounts in line with the increases in the amounts indexed under the Social Security Act 1991 .

- SECT 2
Indexed and adjusted amounts
The following table sets out:

(a)
each monetary amount that is to be indexed or adjusted under this Schedule; and

(b)
the abbreviation used in this Schedule for referring to that amount; and

(c)
the provision or provisions in which that amount is to be found.

Indexed and adjusted amounts
Column 1 Description of amount Column 2 Abbreviation Column 3 Provisions in which amount specified
1 FTB child rate for child under 13 years of age (Part A—Method 1) FTB under 13 child rate (A1) [Schedule 1—clause 7—table—item 1]
2 FTB child rate for child who has reached 13, but is under 16, years of age (Part A—Method 1) FTB 13-15 child rate (A1) [Schedule 1—clause 7—table—item 2]
3 FTB child rate for child who has reached 16, but is under 25, years of age (Part A—Method 1) FTB 16-24 child rate (A1) [Schedule 1—clause 7—table—items 3 and 4]
4 Maximum rent assistance for family tax benefit (Part A—Method 1) FTB RA maximum (A1) [Schedule 1—clause 14—table—column 3—all amounts]
5 Rent threshold rate for rent assistance for FTB (Part A—Method 1) FTB RA rent threshold (A1) [Schedule 1—subparagraphs 13(1)(f)(i), (ii) and (iii)] [Schedule 1—clause 14—table—column 2—all amounts]
6 FTB child rate (Part A—Method 2) FTB child rate (A2) [Schedule 1—subclause 26(2)—all amounts]
7 Large family supplement formula component for family tax benefit (Part A) FTB LFS (A) [Schedule 1—clause 35—the amount in the formula]
8 Multiple birth allowance for family tax benefit (Part A) FTB MBA (A) [Schedule 1—clause 37—paragraphs (a) and (b)]
9 Standard rate of family tax benefit (Part B) FTB standard rate (B) [Schedule 1—clause 30—table—column 2—all amounts]
10 Rate of family tax benefit payable to an approved care organisation FTB ACO rate [subsection 58(2)]
11 Basic higher income free area for family tax benefit (Part A) FTB basic HIFA (A) [Schedule 1—clause 2—table—column 1]
12 Additional higher income free area for family tax benefit (Part A) FTB additional HIFA (A) [Schedule 1—clause 2—table—column 2]
13 Income free area for family tax benefit (Part A—Method 1) FTB free area (A1) [Schedule 1—clause 19]
14 Income free area for family tax benefit (Part B) FTB free area (B) [Schedule 1—clause 33]
15 Standard basic maintenance income free area for family tax benefit (Part A—Method 1) FTB basic MIFA (A1) [Schedule 1—clause 22—table—column 2—items 1 and 3]
16 Double basic maintenance income free area for family tax benefit (Part A—Method 1) FTB double basic MIFA (A1) [Schedule 1—clause 22—table—column 2—item 2]
17 Additional maintenance income free area for family tax benefit (Part A—Method 1) FTB additional MIFA (A1) [Schedule 1—clause 22—table—column 3—all amounts]
18 Standard hourly rate of child care benefit for care other than part-time family day care or non-standard hours family day care CCB standard hourly rate [Schedule 2—subclause 4(1)—table—item 1]
19 Lower income threshold for child care benefit CCB lower income threshold [Schedule 2—subclause 6(2)]
20 Upper income threshold for child care benefit CCB upper income threshold [Schedule 2—subclause 6(3)]
21 Minimum hourly rate for child care benefit CCB minimum hourly rate [Schedule 2—clause 12—the numerator in the formula]

Part 2—Indexation

- SECT 3
CPI Indexation Table
(1)
An amount referred to in the following table is to be indexed under this Part on each indexation day for the amount, using the reference quarter and base quarter for the amount and indexation day and rounding off to the nearest multiple of the rounding amount:

CPI indexation
Column 1 Amount Column 2 Indexation day(s) Column 3 Reference quarter (most recent before indexation day) Column 4 Base quarter Column 5 Rounding base
1 FTB under 13 child rate (A1) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
2 FTB 13-15 child rate (A1) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
3 FTB 16-24 child rate (A1) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
4 FTB RA maximum (A1) (a) 20 March (b) 20 September (a) December (b) June highest June or December quarter before reference quarter (but not earlier than June quarter 1979) $7.30
5 FTB RA rent threshold (A1) (a) 20 March (b) 20 September (a) December (b) June highest June or December quarter before reference quarter (but not earlier than June quarter 1979) $7.30
6 FTB child rate (A2) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
7 FTB LFS (A) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
8 FTB MBA (A) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
9 FTB standard rate (B) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
10 FTB ACO rate 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
11 FTB basic HIFA (A) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $73.00
12 FTB additional HIFA (A) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $73.00
13 FTB free area (A1) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $73.00
14 FTB free area (B) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $73.00
15 FTB basic MIFA (A1) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $10.95
16 FTB double basic MIFA (A1) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $21.90
17 FTB additional MIFA (A1) 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $3.65
18 CCB standard hourly rate 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $0.01
19 CCB lower income threshold 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $73.00
20 CCB upper income threshold 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $1.00
21 CCB minimum hourly rate 1 July December highest December quarter before reference quarter (but not earlier than December quarter 1999) $0.001

Highest quarter

(2)
A reference in the table in subclause (1) to the highest of a group of quarters is a reference to the quarter in that group that has the highest index number.

- SECT 4
Indexation of amounts
(1)
If an amount is to be indexed under this Part on an indexation day, this Act has effect as if the indexed amount were substituted for that amount on that day.

(2)
This is how to work out the indexed amount for an amount that is to be indexed under this Part on an indexation day:

Method statement

Step 1. Use clause 5 to work out the indexation factor for the amount on the indexation day. Step 2. Work out the current figure for the amount immediately before the indexation day. Step 3. Multiply the current figure by the indexation factor: the result is the provisional indexed amount . Step 4 . Use clause 6 to round off the provisional indexed amount: the result is the indexed amount. (The indexed amount may be increased under clause 7 in certain cases.)

- SECT 5
Indexation factor
(1)
Subject to subclauses (2) and (3), the indexation factor for an amount that is to be indexed under this Part on an indexation day is:

worked out to 3 decimal places.

(2)
If an indexation factor worked out under subclause (1) would, if it were worked out to 4 decimal places, end in a number that is greater than 4, the indexation factor is to be increased by 0.001.

(3)
If an indexation factor worked out under subclauses (1) and (2) would be less than 1, the indexation factor is to be increased to 1.

(4)
Subject to subclause (5), if at any time (whether before or after the commencement of this clause), the Australian Statistician publishes an index number for a quarter in substitution for an index number previously published by the Australian Statistician for that quarter, the publication of the later index number is to be disregarded for the purposes of this clause.

(5)
If at any time (whether before or after the commencement of this clause) the Australian Statistician changes the reference base for the Consumer Price Index, regard is to be had, for the purposes of applying this clause after the change takes place, only to index numbers published in terms of the new reference base.

- SECT 6
Rounding off indexed amounts
(1)
If a provisional indexed amount is a multiple of the rounding base, the provisional indexed amount becomes the indexed amount.

(2)
If a provisional indexed amount is not a multiple of the rounding base, the indexed amount is the provisional indexed amount rounded up or down to the nearest multiple of the rounding base.

(3)
If a provisional indexed amount is not a multiple of the rounding base but is a multiple of half the rounding base, the indexed amount is the provisional indexed amount rounded up to the nearest multiple of the rounding base.

Part 3—Adjustment of other rates

- SECT 7
Adjustment of FTB child rates
(1)
Subject to subclause (2), this Act has effect as if, on 1 July each year, the amount worked out in accordance with the following formula were substituted for the FTB under 13 child rate:

(2)
Subclause (1) does not apply if the amount worked out in accordance with the formula in that subclause does not exceed the FTB under 13 child rate (as indexed under clause 4) that would apply on the 1 July concerned apart from this clause.

(3)
Subject to subclause (4), this Act has effect as if, on 1 July each year, the amount worked out in accordance with the following formula were substituted for the FTB 13-15 child rate:

(4)
Subclause (3) does not apply if the amount worked out in accordance with the formula in that subclause does not exceed the FTB 13-15 child rate (as indexed under clause 4) that would apply on the 1 July concerned apart from this clause.

(5)
If the amount worked out under subclause (1) or (3) is not a multiple of $3.65, the amount to be substituted under that subclause is to be increased to the next highest amount that is a multiple of $3.65.

Part 4—Transitional indexation provision

- SECT 8
Transitional indexation of amounts used to calculate family
assistance rates
(1)
If the Secretary determines in writing, for the purposes of this Act, a higher amount in substitution for an amount set out in the following table, the higher amount is taken, from the commencement of this clause, to be substituted for the amount so set out.

Transitional Indexation Table
Provision Amount specified in
1 section 58 subsection (2)
2 Schedule 1 (clause 7) items 1 to 3 of the table
3 Schedule 1 (clause 13) subparagraph (1)(f)(i), (ii) or (iii)
4 Schedule 1 (clause 14) table
5 Schedule 1 (clause 22) column 2 or 3 in table
6 Schedule 1 (clause 26) paragraph 2 (a)
7 Schedule 1 (clause 30) table column 2
8 Schedule 1 (clause 35) formula
9 Schedule 1 (clause 37) paragraph (a) or (b)
10 Schedule 2 (clause 4) item 1 in table in subclause (1)
11 Schedule 2 (clause 6) subclause (2)
12 Schedule 2 (clause 6) subclause (3)
13 Schedule 2 (clause 12) amount in the numerator in the formula
(2)
A determination under subclause (1) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 .

[ Minister's second reading speech made in— House of Representatives on 31 March 1999 Senate on 24 May 1999 ] (74/99)


[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Download] [Help]