1.1.I.50 Income components (YA)

Definition

For the purposes of the YA parental means test, income components included in the combined parental income for the appropriate tax year are:

  • taxable income,
  • adjusted fringe benefits value for that financial year,
  • target foreign income (1.1.F.160),
  • total net investment loss (YA) (1.1.T.105), and
  • reportable superannuation contributions (within the meaning of the Income Tax Assessment Act 1997) for that year.

Act reference: SSAct section 23(1)-'taxable income', section 23(1)-'tax year', section 1067G-F10 Combined parental income

Last reviewed: 16 May 2016