20CWorking out amounts of child maintenance in relation to lump sum payments

20C Working out amounts of child maintenance in relation to lump sum payments

(1) This clause applies if an individual receives in an income year child maintenance for an FTB child of the individual under: (a) a child support agreement, containing lump sum payment provisions (within the meaning of paragraph 84(1)(e) of the Child Support (Assessment) Act 1989), to which clause 20B does not apply; or (b) a court order made under section 123A of that Act; in the form of a lump sum payment that is to be credited under section 69A of the Child Support (Registration and Collection) Act 1988 against a liability under an administrative assessment. (2) For the purposes of this Act, the amount of child maintenance that the individual is taken to have received in an income year under the agreement or order for the child for a period is the amount that is credited under section 69A of the Child Support (Registration and Collection) Act 1988 against the liability under the administrative assessment for the child for the period.

Note: The amount worked out under this clause is annualised under clause 20A.

Child Support (Assessment) Act 1989

64 Subsection 5(1)

Insert:

notional assessment has the meaning given by section 146E.

65 Subsection 5(1)

Insert:

provisional notional assessment means a provisional notional assessment made under section 146B.

66 Subsection 34B(1) (note)

Omit “Note”, substitute “Note 1”.

67 At the end of subsection 34B(1)

Add:

Note 2: If the Registrar makes an assessment under this section, the Registrar must make a provisional notional assessment under section 146B.

68 Subsection 93(2) (note)

Omit “Note”, substitute “Note 1”.

69 At the end of subsection 93(2)

Add:

Note 2: If the Registrar makes an assessment under this section, the Registrar must make a provisional notional assessment under section 146B.

70 At the end of subsection 125(1)

Add:

Note: If the court makes a statement under this section that the annual rate of child support is to be reduced, the Registrar must make a provisional notional assessment under section 146B.

71 After Part 7

Insert: