Commonwealth Consolidated Acts Commonwealth Consolidated Acts
A New Tax System (Family Assistance) Act 1999
1 Before subclause 38A(1) of Schedule 1
Insert:
(1A) Despite any other provision of this clause, the amount of the FTB Part A supplement to be added in working out an individual's maximum rate under clause 3, or an individual's Method 2 base rate under clause 25, is nil if the individual's adjusted taxable income is more than $80,000.
Note: If the individual is a member of a couple, the individual's adjusted taxable income includes the adjusted taxable income of the individual's partner: see clause 3 of Schedule 3.
2 Application provision
The amendment made by this Schedule applies in relation to working out the rate of family tax benefit for days on or after the commencement of this Schedule.