|
|
||||||||||||||||||||||||
|
|
Where a student meets the ABSTUDY general eligibility criteria, income details must be provided to assess the level of
assistance that student may receive. All assessable income is taken into account for the income tests. This chapter
explains the general income requirements for ABSTUDY eligibility.
Chapter content
This chapter contains the following topics:
114.1 Assessable income
Student, parental and partner income tests take into account income from all sources that is assessable for ABSTUDY
purposes, less any deductions allowable by the Australian Taxation Office (ATO). The resulting amount is taxable income
and is shown on the ATO Tax Assessment Notice (TAN).
Where a payment in the nature of income is not specifically exempt, it should be regarded as income for ABSTUDY purposes. 114.2 Some common assessment issues114.2.1 Maintenance payments
Amounts paid for the maintenance of children or a former partner are deducted from assessable income to arrive at a
figure for total income. Any maintenance received is added to assessable income to arrive at a figure for total income.
114.2.2 Negative income
It is not possible for one parent's loss or negative income to reduce the effect of the other parent's positive income.
The loss should be treated as zero income and the other parent's income will be the family's total taxable income.
114.2.3 Income averaging
Income averaging for self employed primary producers is not provided for under the ABSTUDY income test.
|
|||
|
Copyright | Disclaimer | Privacy | Feedback |
