Minimum income that returns no rebate. Less than this number gets a rebate
Rates Rebates Float Year Titled Property Formula IncludedValue type Float . Default value 0 Entity titled_property
How is this calculated?
To calculate this variable, the following input is used
- Int rates_rebates__dependants Number of Persons classified as dependant for the purposes of Rates Rebates
- Float rates_rebates__rates_total Total rates for the property
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)