1.1.F.50 Formula assessment (FTB)
Definition
For the purposes of FTB, a child support (1.1.C.20) formula assessment is an assessment made by Child Support under the Child Support (Assessment) Act 1989 of the payer's (1.1.P.72) child support liability (1.1.C.21). This assessment applies the child support formula against the payer and the payee's (1.1.P.71) assessable child support incomes.