8Amount of levy—person who has spouse or dependants

8 Amount of levy—person who has spouse or dependants

(1) Where a person: (a) is a married person on the last day of the year of income; or (b) is entitled to a tax offset under Subdivision 61‑A of the Income Tax Assessment Act 1997 for the year of income in respect of the person’s child (within the meaning of that Act); or (c) is entitled to a notional tax offset under Subdivision 961‑B of the Income Tax Assessment Act 1997 for the year of income; and the family income in relation to the person does not exceed the family income threshold in relation to the person, no levy is payable by the person upon the taxable income of the person. (2) Subject to subsection (3), where a person (in this subsection referred to as the relevant person): (a) was a married person on the last day of the year of income; or (b) is entitled to a tax offset under Subdivision 61‑A of the Income Tax Assessment Act 1997 for the year of income in respect of the person’s child (within the meaning of that Act); or (c) is entitled to a notional tax offset under Subdivision 961‑B of the Income Tax Assessment Act 1997 for the year of income; and the family income in relation to the relevant person exceeds the family income threshold in relation to the relevant person, the amount of the levy payable by the relevant person upon the taxable income of the relevant person but for this section and section 9 shall be reduced by the amount (if any) calculated in accordance with the formula: Start formula 2% of the family income threshold in relation to the relevant person minus open bracket 0.08 times open bracket The family income in relation to the relevant person minus The family income threshold in relation to the relevant person close bracket close bracket end formula (3) Where: (a) but for this subsection, the amount of levy payable by a person upon the taxable income of the person but for this section and section 9 would be reduced by an amount (in this subsection referred to as the reduction amount) ascertained in accordance with subsection (2); (b) the person was a married person on the last day of the year of income; and (c) but for this section and section 9, the spouse of the person would be liable to pay levy upon the taxable income of the spouse; the reduction amount shall, subject to subsection (4), be reduced by so much of the reduction amount as bears to the reduction amount the same proportion as the amount of the taxable income of the spouse bears to the family income in relation to the person. (4) Where: (a) subsection (3) applies for the purposes of ascertaining the levy payable by a person upon the taxable income of the person but for section 9; and (b) the amount of the reduction of that levy ascertained in accordance with subsections (2) and (3) exceeds the amount of the levy payable by the person upon the taxable income of the person but for this section and section 9; the amount of levy payable by the spouse of the person upon the taxable income of the spouse but for this subsection and section 9 shall be reduced by the amount of the excess. (5) In this section: