SCHEDULES

SCHEDULE 3 Calculation of income

PART 4 Residual income

CHAPTER 2 Residual income of persons other than an eligible student

Calculation of residual income of persons other than eligible student
14. P's residual income is calculated as follows—
P's taxable income for the applicable financial year.
Plus
Income payable to P under a pension arrangements order during the applicable financial year, net of income tax.
Minus
The aggregate of the deductions set out in paragraph 15 (unless already deducted for the purposes of determining P's taxable income).

Sch. 3 para. 14 in force at 27.5.2019, see reg. 1(2)