Section MD 15 — Income Tax Act 2007: Family scheme income for purposes of section MD 14

MD 15 Family scheme income for purposes of section MD 14 For the purposes of section MD 14 , in the calculation of family scheme income,— (a) section MB 1(1)(a) and (b) (Adjustments for calculation of family scheme income) does not apply; and (b) any income from employment that is derived in the calendar month as a result of an extra pay period that occurs in that month is disregarded; and (c) for a person who derives, for part of an income year, income to which section RD 3(2) to (4) (PAYE income payments) applies, or income from a business, the assessable income and any expenditure incurred in deriving that income that is allowed as a deduction are treated as derived and incurred, respectively, at a uniform daily rate throughout that part of the income year. Defined in this Act: assessable income , business , deduction , family scheme income , income , income from employment , income year , pay period , Compare: 2004 No 35 s KD 2(6C)