Commonwealth Numbered Regulations

1993 No. 367 AUSTUDY REGULATIONS (AMENDMENT) - REG 36

36.1 Subregulation 86 (1): Omit the subregulation, substitute:

"(1) Subject to subregulation (7) and regulation 90, parental income for a
year of study is the amount calculated using the following formula:
(G P I + F B) - D C where: G P I means the income of the student's parent, or
the total income of both of the student's parents, as the case requires:

   (a)  if the prescribed event referred to in paragraph 109 (1) (d) happens
        in relation to the student-in the financial year ending in the year of
        study; or

   (b)  if that event does not happen-in the most recent financial year ending
        before the year of study; F B means the value of all fringe benefits
        received by the student's parent, or the total value of the fringe
        benefits received by both of the student's parents, that exceeds
        $1,000, being fringe benefits:

   (a)  that are received:

        (i)    if the event happens-in the fringe benefits year ending in the
               year of study; and

        (ii)   if the event does not happen-in the most recent fringe benefits
               year ending before the year of study; and

   (b)  that are described in subregulation (9), unless the Department is
        given a statement in accordance with subregulation (8); and D C means
        the total amount of any deductions for children described in
        regulation 87.".
36.2 Subregulation 86 (2): Omit all the words before paragraph (a),
substitute:

"(2) The income of a student's parent comprises:".
36.3 Paragraph 86 (2) (c): Omit the paragraph, substitute:

"(c) an amount received:

        (i)    by, or on behalf of, the parent for the maintenance of the
               parent or of a dependant of the parent; or

        (ii)   by a dependant of the parent for the maintenance of the
               dependant.".
36.4 Add at the end:

"(7) If, in relation to a student:

   (a)  the prescribed event referred to in paragraph 109 (1) (d) happens; and

   (b)  the amount of parental income calculated under subregulation (1) is
        not less than 25% greater than the amount of parental income
        calculated before that event; parental income is taken to be:

   (c)  for the period commencing on 1 January and ending at the end of 30
        September in the year of study-the amount of parental income before
        the event; and

   (d)  for the period commencing on 1 October and ending at the end of 31
        December in the year of study-that amount as a result of the event.

"(8) If a student's parent gives to the Department a statement by the parent's
employer, or each of the parent's employers, of the amount for which tax is
payable by the employer, or employers, under the Fringe Benefits Tax 
Assessment Act 1986 for fringe benefits described in a paragraph of
subregulation (9) that are provided by the employer or employers to the
parent:

   (a)  if the prescribed event referred to in paragraph 109 (1) (d) happens
        in relation to the student-in the fringe benefits year ending in the
        year of study; and

   (b)  if that event does not happen-in the most recent fringe benefits year
        ending before the year of study; that amount, or the total of those
        amounts, is taken to be the value of fringe benefits received by the
        parent.

"(9) For the purposes of this regulation, the fringe benefits received by a
student's parent comprise any or all of the following benefits:

   (a)  a car benefit within the meaning of Part 2 of Schedule 6 that is not
        an exempt car benefit within the meaning of Division 2 of that Part;

   (b)  a health insurance benefit within the meaning of Part 3 of that
        Schedule;

   (c)  a housing benefit within the meaning of Part 4 of that Schedule that
        is not an exempt housing benefit within the meaning of Division 2 of
        that Part;

   (d)  a loan benefit within the meaning of Part 5 of that Schedule that is
        not an exempt loan benefit within the meaning of Division 2 of that
        Part;

   (e)  a school fees benefit within the meaning of Part 6 of that Schedule;
        whether the benefits are received in or outside Australia.

"(10) In these Regulations:
'employer' has the same meaning as in Schedule 6;
'fringe benefits year' means the period commencing on 1 April in a year and
ending at the end of 31 March in the following year.".