19Events relating to income for income years

19 Events relating to income for income years

Scope (1) This section applies if: (a) an estimate or statement of the amount of income (however defined or described) of a parent of the student has been given to Services Australia for purposes relating to the amount mentioned in section 12; and (b) the income is income for either of the following income years: (i) the current tax year in relation to the amount mentioned in section 12; (ii) the base tax year in relation to that amount. (2) However, if more than one estimate or statement of the amount of income of the parent for the income year has been given to Services Australia for those purposes, this section applies only in relation to the latest estimate or statement. Events (3) If: (a) the ABSTUDY payee is the student; and (b) the student has dependent status; the event of the ABSTUDY payee becoming aware that the amount of income of the parent for the year exceeded, or will exceed, the estimated or stated amount by at least 25% is prescribed. (4) If: (a) the ABSTUDY payee is a parent of the student; and (b) the income is the income of: (i) the ABSTUDY payee; or (ii) another parent of the student; the event of the ABSTUDY payee becoming aware that the amount of income of the ABSTUDY payee or of the other parent for the year exceeded, or will exceed, the estimated or stated amount by at least 25% is prescribed.