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
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: 1 July 2020

The Department of Social Services acknowledges the traditional country throughout Australia on which we gather, live, work and stand. We acknowledge all traditional custodians, their Elders past, present and emerging and we pay our respects to their continuing connection to their culture, community, land, sea and rivers.