41Standard reduction

41 Standard reduction

(1) Subject to subclause (2), the standard reduction for a family tax benefit advance is the amount worked out using the following formula: Start formula start fraction Original amount of the family tax benefit advance over Original repayment period end fraction times 365 end formula Member of a couple in a blended family (2) If a determination under section 28 that an individual is eligible for a percentage (the section 28 percentage) of the family tax benefit for FTB children of the individual is in force, the standard reduction for a family tax benefit advance paid to the individual is the amount worked out using the following formula: Start formula start fraction Amount worked out under subclause (1) over Section 28 percentage end fraction end formula Meaning of original repayment period (3) The original repayment period for a family tax benefit advance is a period of 182 days, unless the Secretary has determined a different period for the advance under clause 42 or 51.