1.1.A.90 Application period
Definition
The application period is the period where an income estimate (1.1.I.20) election is used in the assessment. If the income estimate election is for:
- a full year, the application period starts on 1 July of that year of income (1.1.Y.10)
- part of the year of income then the application period starts on the start day for the election.
The application period ends on 30 June of the year of income.
If the parent (1.1.P.10) revokes the estimate and makes another income estimate election, the application period for the first estimate ends the day before the start day of the later election. The application period for the later election is from the start date of that election to the end of the year of income.
Example: Jeremy contacted Services Australia on 24 February and made an income estimate election. The application period for that estimate is from 24 February to 30 June. When Jeremy makes another income estimate election on 13 April, the application period for the first estimate is now from 24 February to 12 April. The application period for the later estimate is 13 April to 30 June.