Families, Community Services and Indigenous Affairs and Other Legislation (2006 Budget and Other Measures) Act 2006
24AMaintenance income credit balances
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24A Maintenance income credit balances
(1) A maintenance income credit balance, for a registered entitlement of an individual, is, at any particular time, the balance at that time of the accruals under clause 24B and the depletions under clause 24E in relation to that entitlement.
(2) Despite subclause (1), a maintenance income credit balance for a registered entitlement at any particular time cannot exceed the total arrears owing from that registered entitlement for all income years for which the entitlement has existed.
(a) but for the condition in subclause 24B(3) not being met in relation to an income year, there would be an accrual to a maintenance income credit balance of an individual for a day in that income year; and
(b) after there has been an accrual under clause 24C for a day in a later income year or a depletion under clause 24E for a later income year, that condition is met in relation to the earlier income year;
the maintenance income credit balance is recalculated, taking into account the accrual for the day in the earlier income year before taking into account the accrual or depletion mentioned in paragraph (b).
(4) This Subdivision continues to apply in relation to a maintenance income credit balance of an individual whether or not the individual or the individual’s partner continues to be eligible for family tax benefit.