Regulation 2.60W — When an applicant passes the income test

2.60W When an applicant passes the income test

Applicant’s taxable income only

(1) An applicant for approval as a family sponsor in relation to the parent sponsor class passes the income test if the applicant’s taxable income, for the income year or each of the income years specified in an instrument under subregulation (4), is at least equal to the amount specified in such an instrument.

Applicant’s taxable income combined with other taxable incomes

(2) An applicant for approval as a family sponsor in relation to the parent sponsor class passes the income test if:

(a) the sum of:

(i) the taxable income of the applicant; and

(ii) any taxable income of either or both of the persons specified in subregulation (3);

for the income year or each of the income years specified in an instrument under subregulation (4), is at least equal to the amount specified in such an instrument; and

(b) the taxable income of the applicant, for that year or each of those years, is at least equal to half of that amount.

(3) The following persons are specified for the purposes of subparagraph (2)(a)(ii):

(a) the spouse or de facto partner of the applicant;

(b) one child of a permitted sponsored person in relation to the applicant if:

(i) that permitted sponsored person is specified in the application; and

(ii) that child is an Australian citizen, an Australian permanent resident or an eligible New Zealand citizen.

Specified amounts and years

(4) The Minister may, by legislative instrument, specify:

(a) an amount or amounts for the purposes of subregulations (1) and (2); and

(b) an income year or income years for the purposes of subregulations (1) and (2).

Definitions

(5) In this regulation: income year has the meaning given by the Income Tax Assessment Act 1997. taxable income has the meaning given by the Income Tax Assessment Act 1997.