### Yearly rebate applied to housing rates.

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

- Float rates_rebates__combined_income Combined Income of applicant and others normally resident at property for the purposes of Rates Rebates
- 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__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
maximum_allowable = parameters(period).entitlements.rates_rebates.maximum_allowable
# 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
# wrapping floor math function is non legislative and only to conform output of variable with existing infrastracture.
excess_income = floor((titled_properties.sum(titled_properties.members(**'rates_rebates__combined_income'**, period)) - allowable_income) / 8).clip(min=0)
# minus the initial contribution
rates_minus_contribution = titled_properties(**'rates_rebates__rates_total'**, period) - initial_contribution
# perform the calculation
rebate = rates_minus_contribution - ((rates_minus_contribution / 3) + excess_income)
# Ensures the results aren't negative (less than 0) or greater than the maximum_allowable
return clip(rebate, 0, maximum_allowable)

## Scenarios calculating this variables

- Someone earning 32103 with no dependants and rates of 2000
- Someone earning 35000 with two dependants and rates of 2200
- Someone earning 70000 with two dependants and rates of 2200
- Calculate rebate for the full rebate with 3 dependants and rates of $2400
- Expect full rebate with 3 dependants and rates of $2400
- Tests rounding behaviour within existing infrastructure
- Rates Rebate - 2018-2019 form example 1x1
- Rates Rebate - 2018-2019 form example 1x2. income $25,000 rates $1,000
- Rates Rebate - 2018-2019 form example 1x3. income $26,000 rates $1,000
- Rates Rebate - 2018-2019 form example. income $32,000 rates $1,800
- Rates Rebate - 2018-2019 form example. income $42,000 rates $3,500
- Rates Rebates - Max/Min calculation tests.
- Rates Rebate - 2018-2019 form example 1x1 earns too much for a rebate
- Rates Rebate - 2018-2019 form example 1x1 small enough for full rebate
- Rates Rebate - rebate over time