The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

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 for that year, disregarding each parent’s assessable First home super saver scheme released amount (within the meaning of the Income Tax Assessment Act 1997) for that year
adjusted fringe benefits total for that financial year
target foreign income (1.1.T.05)
total net investment loss (YA) (1.1.T.105)
the parent’s tax free pensions or benefits for that year (worked out in accordance with clause 7 of Schedule 3 to the Family Assistance Act 1999), and
reportable superannuation contributions (within the meaning of the Income Tax Assessment Act) for that year.

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

Policy reference: SS Guide 4.2.8.10 Dependent YA - parental income test

Last reviewed: 2 January 2024

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