Section MZ 2 — Income Tax Act 2007: Calculation of child tax credit

MZ 2 Calculation of child tax credit Entitlement (1) A person who meets the requirements of section MZ 1 is entitled to a child tax credit calculated using the formula in subsection (2). Formula (2) The formula is— $780 × dependent children × days in entitlement period 365. Definition of items in formula (3) In the formula,— (a) dependent children is the number of dependent children for whom the person is a principal caregiver during the entitlement period: (b) days in entitlement period is the number of days in the entitlement period for which the person and their spouse, civil union partner, or de facto partner do not receive a social assistance payment and do not have a suspended entitlement to an income-tested benefit. Defined in this Act: amount , child tax credit , civil union partner , de facto partner , dependent child , entitlement period , income-tested benefit , principal caregiver , social assistance payment , spouse , Compare: 2004 No 35 s KD 2(4)