s 32AJ

Exception—new FTB child

In force

Scope

(1)

This section applies if, on a day (the FTB child day) after the later of the consecutive years:

(a)

the individual has an FTB child; and

(b)

the child was not an FTB child of the individual at any time during the consecutive years.

Trigger day is on or before exclusion day

(2)

If the trigger day is on or before the exclusion day, subsection 32AF(2) is taken not to apply to the individual.

Trigger day is after exclusion day

(3)

If the trigger day is after the exclusion day, subsection 32AF(2) ceases to apply to the individual on and from the trigger day.

Trigger day for new FTB child

(4)

In this section:

trigger day means the later of:

(a)

the earliest FTB child day; and

(b)

1 July of the income year the Secretary becomes aware of the existence of the FTB child.

Note:

For the meaning of consecutive year, see subsection 32AF(1). For the meaning of exclusion day, see subsection 32AF(3).

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