15Income requirement for single individual assurer

15 Income requirement for single individual assurer

(1) This section applies to an individual who gives an assurance of support as a single assurer.

(2) The individual meets the income requirement for the current financial year, first financial year or second financial year if the amount of the individual’s assessable income for that year is at least the total of:

(a) the maximum basic jobseeker payment amount, applicable on 1 July of the current financial year, multiplied by the total of:

(i) one (representing the individual giving the assurance of support); and

(ii) the total number of adults receiving assurance under an assurance of support given by the person; and

(b) the amount obtained by adding together, for each child of the person giving assurance under an assurance of support:

(i) the base FTB child rate applicable on 1 July of the current financial year; and

(ii) the applicable supplement amount applicable on 1 July of the current financial year.