1099DAB
In forceIncome—asset‑tested income stream (lifetime)
Volume 3Chapter 2AA, Part 2AA.1 to Chapter 3, Part 3.12, sections 1061ZVAA-1157
Chapter 3General provisions relating to payability and rates
Part 3.10General provisions relating to the ordinary income test
Division 1CIncome from income streams not covered by Division 1B
Subdivision BIncome streams that are not family law affected income streams
1099DAB Income—asset‑tested income stream (lifetime)
If the income stream is an asset‑tested income stream (lifetime), the amount that the person is taken to receive from the income stream each year is worked out as follows:
Start formula Annual payment times 0.6 end formula
where:
annual payment means the amount payable to the person for the year under the income stream.
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