56Taxable income is as assessed under Income Tax Assessment Act

56 Taxable income is as assessed under Income Tax Assessment Act

Meaning of taxable income (1) For the purposes of assessing a parent in respect of the costs of a child in relation to a child support period, if the parent’s taxable income has been assessed under an Income Tax Assessment Act for the last relevant year of income in relation to the child support period, the parent’s taxable income for that year is the amount as so assessed.

Note: Sections 34A and 57 are also relevant to a person’s taxable income.

When amended tax assessment may be taken into account (2) If, after an administrative assessment of child support is made, the assessment (the tax assessment) of a parent’s taxable income is amended (whether or not because of an objection, appeal or review), the Registrar must not amend the administrative assessment to take account of the amendment to the tax assessment unless one of the following applies: (a) the amendment to the tax assessment is made under item 5 of the table in subsection 170(1) of the Income Tax Assessment Act 1936 (amendment due to fraud or evasion); (b) the amendment to the tax assessment is made under provisions of an Income Tax Assessment Act that are prescribed by the regulations for the purposes of this paragraph; (c) the amendment is made in circumstances prescribed for the purposes of this paragraph; (d) the amendment is made solely for the purposes of working out the parent’s adjusted taxable income for the last relevant year of income for the purposes of subsection 60(3) of this Act (first estimate must be lower than adjusted taxable income). Date of assessment of a parent’s taxable income taken to be date of notice of the assessment (3) For the purposes of this section, if: (a) notice of an assessment (including an amended assessment) of a parent’s taxable income under an Income Tax Assessment Act has been served on the parent under the Income Tax Assessment Act 1936; and (b) the notice is dated; then the assessment is taken to have been made on the date of the notice. Section not to affect determinations, court orders or consent orders (4) This section does not prevent: (a) the Registrar from making any determination under Part 6A (departure determinations); or (b) a court from making any order under Division 4 of Part 7 (departure orders); or (c) the making, and acceptance by the Registrar, of a child support agreement that includes provisions that have effect for the purposes of this Part as if they were such an order made by consent.