year When this section applies
- (1)
- The amount of surcharge payable on a
person's reportable fringe benefits total for a year of income includes the
amount worked out using the formula in subsection (4) if:
- (a)
- this Division applies to the person for only part of the year of income;
and
- (b)
- either subsection (2) or (3) applies to the person.
Person married for whole year of income
- (2)
- This subsection applies to the
person if:
- (a)
- the person is married for the whole of the year of income; and
- (b)
- the sum of the following is more than the family surcharge threshold for
the person for the year of income:
- (i)
- the person's taxable income for the year of income;
- (ii)
- the person's reportable fringe benefits total for the year of income;
- (iii)
- the person's spouse's taxable income for the year of income;
- (iv)
- the person's spouse's reportable fringe benefits total (if any) for the
year of income; and
- (c)
- the sum of the person's taxable income and reportable fringe benefits
total for the year of income is more than $13,389.
Person married for part of the year of income
- (3)
- This subsection applies to
the person if:
- (a)
- the person is married for only part of the year of income; and
- (b)
- the sum of the person's taxable income and reportable fringe benefits
total for the year of income is more than $13,389.
Amount of surcharge
- (4)
- The amount of surcharge payable on the person's
reportable fringe benefits total for the year of income includes the amount
worked out using the formula:
where:
number of applicable days is the number of days in the year of income for
which this Division applies to the person.
Special rule if person's spouse is presently entitled beneficiary
- (5)
- Work
out whether subsection (2) applies to a person whose spouse is a beneficiary
presently entitled to a share in the net income of a trust estate in respect
of which the trustee is liable to be assessed under section 98 of the
Assessment Act assuming that:
- (a)
- the spouse's taxable income included that share; and
- (b)
- subsection 271-105(1) of Schedule 2F to that Act did not apply in working
out the net income of the trust estate.
[ Minister's second reading speech made in— House of Representatives on
2 December 1998 Senate on 10 December 1998 ] (206/98)
Commonwealth Numbered Acts