152Rebate of tax in respect of rebatable benefits

#### 152 Rebate of tax in respect of rebatable benefits (1) If the assessable income of a taxpayer of a year of income includes an amount of rebatable benefit, the taxpayer is entitled in the taxpayer’s assessment in respect of income of that year of income to a rebate of tax of the amount calculated using the formula in subregulation (2) or (3). (2) If the taxpayer’s benefit amount is less than or equal to the threshold at the upper conclusion of the lowest marginal tax rate, the formula is:  where: > A is the taxpayer’s benefit amount, being the amount of rebatable benefit received by the taxpayer during the year of income, rounded down to the nearest whole dollar. > Note: For lowest marginal tax rate and tax‑free threshold—see regulation 148. (3) If the taxpayer’s benefit amount is greater than the threshold at the upper conclusion of the lowest marginal tax rate, the formula is:  where: > A is the taxpayer’s benefit amount, being the amount of rebatable benefit received by the taxpayer during the year of income, rounded down to the nearest whole dollar. > B is the threshold at the upper conclusion of the lowest marginal tax rate. > Note: For lowest marginal tax rate and tax‑free threshold—see regulation 148. (4) If the amount worked out under subregulation (2) or (3) is not an amount of whole dollars, the amount must be rounded up to the nearest whole dollar.