64Reconciliation using a parent’s actual adjusted taxable income—single income election

#### 64 Reconciliation using a parent’s actual adjusted taxable income—single income election (1) This section applies for the purposes of assessing a parent in relation to the costs of a child of the parent for a day in a child support period if: (a) the day occurs in the application period for an income election relating to a year of income that was made by the parent; and (b) the parent did not make more than one income election relating to the year of income; and (c) the parent’s actual adjusted taxable income for the year of income has been ascertained by the Registrar; and (d) if the Registrar has made a determination under subsection 64AB(1) in relation to the parent—the parent’s actual adjusted taxable income for the year of income is more than the parent’s determined ATI for that year; and (e) if, under section 63A, 63B or 63C, the Registrar has amended an assessment of child support payable by or to the parent—the Registrar determines that this section should apply in relation to the parent. Reconciliation—election for a whole year of income (2) Subject to this section, if: (a) subsection 60(2) applied to the income election; and (b) the parent’s actual adjusted taxable income for the year of income is more than the amount that applied under that subsection; the parent’s adjusted taxable income for that year is taken to be, and to have always been, the parent’s actual adjusted taxable income for that year. Reconciliation—election for a part of a year of income (3) Subject to this section, if: (a) subsection 60(3) applied to the income election; and (b) the difference between: (i) the parent’s actual adjusted taxable income for the year of income; and (ii) the parent’s applicable year to date income amount for the year of income; is more than the partial year income amount worked out by the parent under subsection 60(4); the parent’s adjusted taxable income for a day that occurs in the application period for the income election is taken to be, and to have always been, the amount worked out under subsection (4). (4) For the purposes of subsection (3), the amount is worked out by: (a) dividing the amount worked out under paragraph (3)(b) by the number of days in the remaining period to which the income election related; and (b) multiplying the quotient by 365. Income amount orders (5) This section does not apply if an income amount order applies in relation to the parent and any part of the application period for the income election.