Section MF 4 — Income Tax Act 2007: Requirements for calculating instalment of tax credit

MF 4 Requirements for calculating instalment of tax credit How to calculate instalment (1) The Commissioner must calculate the amount of an instalment by way of tax credit under section MD 1 (Abating WFF tax credit) or, as applicable, sections MD 1 and ME 1 (Minimum family tax credit)— (a) as if the calculation period referred to in section MF 3 were a relationship period; and (b) using— (i) a value for family scheme income as directed by section MF 3(2)(c) ; and (ii) the amounts of family tax credit, in-work tax credit, child tax credit, parental tax credit, family credit abatement, and minimum family tax credit set out in sections MD 3 , MD 4 , MD 11 , MD 12 , and ME 1 (which relate to credits). Instalment shown in complete dollars (2) An instalment of a tax credit under section MD 1 or, as applicable, sections MD 1 and ME 1 , is to be shown in a notice of entitlement in complete dollars. Defined in this Act: amount , child tax credit , Commissioner , family credit abatement , family scheme income , family tax credit , in-work tax credit , minimum family tax credit , notice of entitlement , parental tax credit , relationship period , tax credit , Compare: 2004 No 35 s KD 5(6A), (7) Section MF 4(1): amended, on 1 April 2008, by section 486(1) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section MF 4(1)(b)(ii): amended, on 1 April 2008, by section 486(2) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section MF 4 list of defined terms family support : repealed, on 1 April 2008, by section 486(3)(b) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section MF 4 list of defined terms in-work payment : repealed, on 1 April 2008, by section 486(3)(b) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section MF 4 list of defined terms in-work tax credit : inserted, on 1 April 2008, by section 486(3)(a) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section MF 4 list of defined terms minimum family tax credit : inserted, on 1 April 2008, by section 486(3)(a) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).