Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of subsection 333F(2) of the Act, the high income threshold for that year for an employee (the engaged employee ) mentioned in paragraph 333F(2)(a) or (b) of the Act is taken to be the amount worked out under subregulation (2).
(2) The amount is to be worked out as follows:
(a) begin with the number of hours that, under the terms of the contract mentioned in subsection 333F(2) of the Act, the engaged employee is required to work in that year;
(b) divide that number of hours by the number of hours that a full - time employee would work in that year (rounding to 3 decimal places, and rounding up if the fourth decimal place is 5 or more);
(c) multiply the result of paragraph (b) by the high income threshold, for the financial year in which the contract is entered into, worked out under regulation 2.13.
(3) A number of hours referred to in paragraph (2)(a) or (b) may include a part of an hour.
(4) For the purposes of paragraph (2)(b), assume the number of hours that a full - time employee would work is:
(a) if an enterprise agreement or a modern award applies to the engaged employee at the time the contract is entered into--the number of hours that a full - time employee is required to work under the enterprise agreement or modern award; or
(b) if paragraph (a) does not apply--the number of hours of work of any other full - time employees of the employer employed in the same position as (or in a position that is comparable to) the position of the engaged employee; or
(c) if the number of hours cannot be worked out under paragraph (a) or (b)--38 hours per week.