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CHILD SUPPORT (ASSESSMENT) REGULATIONS (AMENDMENT) 1995 NO. 179EXPLANATORY STATEMENT
Statutory Rules 1995 No. 179
Issued by the Authority of the Assistant Treasurer
Child Support (Assessment) Act 1989
Child Support (Assessment) Regulations (Amendment)
Section 164 of the Child Support (Assessment) Act 1989 (the Act) provides that the Governor General may make regulations for the purpose of the Act.
The Act provides for the administrative assessment of child support by the Child Support Registrar according to a formula set out in the Act as well as for acceptance by the Registrar of consent agreements between the parties as child support agreements
The amendment to the Child Support (Assessment) Regulations (the regulations) is set out below.
Regulation 6 (Inflation factor)
In determining a person's child support income amount, section 55 of the Act provides for a person's taxable income to be multiplied by an inflation factor applicable to that child support year as set out in the regulations. Regulation 6 prescribes the inflation factor to be applied to a person's taxable income. The inflation factor for the child support year ending on 30 June 1996 will be 1.035. This figure is contained in the 1994-95 Budget Statement Number 1 and is the estimate of a 3.5 per cent increase in average weekly earnings (National Accounts Basis excluding superannuation) m the 1994-95 income year. The amendment updates the table to include a figure for the child support year ending 30 June 1996.
The regulation commenced on gazettal.