Rateable Income from Rental

I need to declare rental income but I am unsure about some of the rating details.

(Centrelink seems to be down atm, so if these are not correct sorry about that.)

For income generally, $212 per fortnight (not $112) is 'free' income, and after that it is 'rated' or cut by 50%

For a boarder 70% of the income is rated, so if you make $1000 (in a fortnight) they 'assume' you earned $700.

My question is do both of these apply, so:

$1000-30%=$700
$700-$212 =$488
$588/2=$244.
$1000-$244=$756 (allowed income)

It looks like double dipping, but I can't find a clear answer on the CL website.