Rapu Ture - Exploring the Rules

Value of a Families entitlement for best start tax credit

Best Start Float MONTH Person Formula Included used 1 time

Value type Float . Default value 0 Entity person


How is this calculated?

To calculate this variable, the following input is used


Where is this used?

This variable is referred to by these other variables in their own calculations


Formulas

This is the formula used to calculate the value of best_start__tax_credit_per_child

0001-01-01

This formula is used for scenarios from the date 0001-01-01 onwards. More info on formulas

def formula(persons, period, parameters):
    threshold = parameters(
        period).entitlements.income_tax.family_scheme.best_start.full_year_abatement_threshold
    rate = parameters(
        period).entitlements.income_tax.family_scheme.best_start.full_year_abatement_rate
    prescribed_amount = parameters(
        period).entitlements.income_tax.family_scheme.best_start.prescribed_amount

    # sum up families income
    # http://legislation.govt.nz/act/public/2007/0097/latest/DLM1518488.html#DLM1518488
    family_income = persons.family.sum(persons.family.members(
        'family_scheme__assessable_income', period.this_year))

    # calculate income over the threshold
    income_over_threshold = where(
        (family_income - threshold) < 0, 0, family_income - threshold)

    # work out the ages for each family member
    years = persons('best_start__year_of_child', period)

    # work out if each dependant child is eligible for full best start tax credit
    dependant_eligible_full = (years == 1) * prescribed_amount

    # work out if each dependant child is eligible for abated best start tax credit
    dependant_eligible_abated_1 = (
        years == 2) * (prescribed_amount - (income_over_threshold * rate))

    dependant_eligible_abated_2 = (
        years == 3) * (prescribed_amount - (income_over_threshold * rate))

    # sum up the entitlement for each child
    return (dependant_eligible_full + dependant_eligible_abated_1 + dependant_eligible_abated_2) / 12