58Rate of family tax benefit

#### 58 Rate of family tax benefit Annual rate of family tax benefit for individuals (1) Subject to sections 60 to 61B, an individual’s annual rate of family tax benefit is to be calculated in accordance with the Rate Calculator in Schedule 1. Annual rate of family tax benefit to approved care organisation (2) An approved care organisation’s annual rate of family tax benefit for an individual is the sum of: (a) the organisation’s standard rate under subsection (2A); and (b) the organisation’s energy supplement under subsection (2B). > Note: Paragraph (b) does not apply to certain approved care organisations: see subsections (2C) and (2D). (2A) An approved care organisation’s standard rate for an individual is $1,372.40. (2B) An approved care organisation’s energy supplement for an individual is $25.55. (2C) Paragraph (2)(b) does not apply in relation to an approved care organisation on or after the commencement of this subsection unless the organisation was entitled to be paid family tax benefit in respect of 19 September 2016. (2D) If: (a) the approved care organisation was entitled to be paid family tax benefit in respect of 19 September 2016; and (b) the organisation ceases to be entitled to be paid family tax benefit in respect of a day on or after 20 September 2016; then paragraph (2)(b) does not apply, and never again applies, to the organisation from: (c) if the cessation occurred before the commencement of this subsection—the start of the day this subsection commences; or (d) if the cessation occurred on or after the commencement of this subsection—the start of the day of that cessation. Daily rate of family tax benefit (3) The daily rate of family tax benefit is the annual rate divided by 365 and rounded to the nearest cent (rounding 0.5 cents upwards). If the daily rate before rounding is above nil and below half a cent, round up to 1 cent.