Rapu Ture - Exploring the Rules

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  • Rates Rebates
  • rates_rebates__minimum_income_for_no_rebate

Minimum income that returns no rebate. Less than this number gets a rebate

Rates Rebates Float YEAR Titled Property Formula Included used 0 times

Value type Float . Default value 0 Entity titled_property

How is this calculated?

To calculate this variable, the following input is used

Formulas

This is the formula used to calculate the value of rates_rebates__minimum_income_for_no_rebate

0001-01-01

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

def formula(titled_properties, period, parameters):
    income_threshold = parameters(period).entitlements.rates_rebates.income_threshold
    additional_per_dependant = parameters(period).entitlements.rates_rebates.additional_per_dependant
    initial_contribution = parameters(period).entitlements.rates_rebates.initial_contribution

    # sum allowable income including all the dependants for property
    allowable_income = (titled_properties.sum(titled_properties.members('rates_rebates__dependants', period)) * additional_per_dependant) + income_threshold
    # what we're using to compute the maximum salary for full rebate
    rebate = 0

    rates_total = titled_properties('rates_rebates__rates_total', period)

    return (((((rates_total - initial_contribution) - rebate) - ((rates_total - initial_contribution) / 3)) * 8) + allowable_income)

Scenarios calculating this variables