Payments made by the Child Support Agency should also be included, as those payments have originated from a non-custodial parent. 6.3.6 Textiles, Clothing and Footwear Special Allowance The Textiles, Clothing and Footwear Special Allowance, which paid under an Australian Government scheme to people retrenched from the textiles, clothing and footwear industries, not counted in the Parental Income Test, as applies (see ). 6.3.7 Treatment of negative income Negative parental income treated as zero income in the income test. The negative income of the applicant or their cannot be deducted from the other’s income. 6.3.8 Income averaging not permitted Parental income cannot be averaged over several years (e.g. as allowed by the Australian Taxation Office for primary producers). Th not the same as carrying forward a previous year loss that an allowable deduction for both income tax and AIC Scheme incometesting purposes. 6.3.9 Income earned or received from overseas income earned or received overseas (less any deductions allowed in the foreign country) and the value of employer-provided fringe benefits (see ) provided overseas are included in the income test. In addition, income earned in an Australian external territory (e.g. ) or an overseas country where there are no taxation arrangements also included. Income earned and the value of fringe benefits given in foreign currencies will be converted to Australian dollars for the Parental Income Test at the average exchange rate for the year. If the amount shown on an Australian Taxation Office assessment notice or similar document, th amount must be used (as it has already been converted). The appropriate currency exchange are available on the Australian Taxation Office website at .
Payments made by the Child Support Agency should also be included, as those payments have originated from a non-custodial parent. 6.3.6 Textiles, Clothing and Footwear Special Allowance The Textiles, Clothing and Footwear Special Allowance, which paid under an Australian Government scheme to people retrenched from the textiles, clothing and footwear industries, not counted in the Parental Income Test, as applies (see ). 6.3.7 Treatment of negative income Negative parental income treated as zero income in the income test. The negative income of the applicant or their cannot be deducted from the other’s income. 6.3.8 Income averaging not permitted Parental income cannot be averaged over several years (e.g. as allowed by the Australian Taxation Office for primary producers). Th not the same as carrying forward a previous year loss that an allowable deduction for both income tax and AIC Scheme incometesting purposes. 6.3.9 Income earned or received from overseas income earned or received overseas (less any deductions allowed in the foreign country) and the value of employer-provided fringe benefits (see ) provided overseas are included in the income test. In addition, income earned in an Australian external territory (e.g. ) or an overseas country where there are no taxation arrangements also included. Income earned and the value of fringe benefits given in foreign currencies will be converted to Australian dollars for the Parental Income Test at the average exchange rate for the year. If the amount shown on an Australian Taxation Office assessment notice or similar document, th amount must be used (as it has already been converted). The appropriate currency exchange are available on the Australian Taxation Office website at .
2009%20AIC%20Guidelines.docx