1.1.I.70 Income thresholds (CCB)

Definition

For the purposes of CCB, income thresholds are the upper and lower annual income limits used in determining an individual's weekly income excess (1.1.I.30). If an individual has:

• one child in care, the income threshold is $41,026 (there is no upper income threshold), or
• more than one child in care:
  • the lower income threshold is $41,026, and
  • the upper income threshold is $95,530.

The figures in this topic relate to the current income year (for CCB purposes: 2 July 2012 to 30 June 2013). Income thresholds for previous income years are located in 3.6.5.20.

Explanation: The lower and upper income thresholds are subject to indexation, for CCB purposes this takes effect on the first Monday of the income year. A week for the purposes of CCB and CCR commences on a Monday.

Act reference: FAAct Schedule 2 clause 6 Income thresholds, Schedule 2 clause 4(2) Standard hourly rate-basic meaning, Schedule 4 clause 2 Indexed and adjusted amounts, Schedule 4 clause 3 CPI Indexation Table, section 3(6) A week, for the purposes of CCB...

_______________________________________________________

Last reviewed: 2 July 2012