For the purposes of YA, the FAMT is a test applied to a dependent young person whose parent is a designated parent for the FAMT. The expenditure and savings of all assessable family members are taken into account to determine the dependent young person's YA entitlement.
The test that produces the lowest rate out of the parental income test, FAMT and personal income test is used.
Act reference: SSAct section 1067G-A1 Method of calculating rate, section 1067G-G1 How to work out effect of actual means of a person's family on maximum payment rate, section 1067G-G2 General provision, section 1067G-G3 Exceptions, section 5(1)-'parent', section 23(15) For the purposes of Part 2.11...
Policy reference: SS Guide 4.2.9 Dependent YA - Family Actual Means Test
Last reviewed: 11 November 2013