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CHILD SUPPORT (ASSESSMENT) REGULATIONS (AMENDMENT) 1998 NO. 164EXPLANATORY STATEMENT
Statutory Rules 1998 No. 164
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 purposes 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 parties as child support agreements.
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 the particular child support year, as set out in the Regulations.
The purpose of the proposed Regulation is to prescribe the inflation factor to be applied to a person's taxable income in relation to the 1998/99 child support year. The amending Regulation will include a figure of 1.04 as the inflation factor for the child support year ending on 30 June 1999. The inflation factor is based on the estimate of a 4 per cent increase in average earnings (National Accounts basis excluding superannuation and redundancies) for the 1997/98 financial year.
The Regulation will commence on 1 July 1998.