Commonwealth Consolidated Acts

VETERANS' ENTITLEMENTS ACT 1986 - SECT 79K

             (1)  The maximum amount of an advance payment is the smaller of:

                     (a)  the amount worked out under subsection (2) or (3) (whichever is applicable); and

                     (b)  $500.

             (2)  If the advance payment is in respect of a pension payable to a person under Part II or IV, the amount for the purposes of paragraph (1)(a) is the amount worked out by using the following formula:

where:

"fortnightly rate of pension" is the rate last determined by the Commission to be the fortnightly rate of pension payable to the person before the application for the advance payment was determined.

             (3)  If the advance payment is in respect of a pension payable to a person under Part III or an income support supplement, the amount for the purposes of paragraph (1)(a) is the amount worked out by using the following formula:

where:

"annual payment rate" is the rate last determined by the Commission to be the rate of pension or income support supplement payable to the person before the application for the advance payment was determined, excluding any amount payable by way of remote area allowance.

             (4)  The amount worked out under subsection (2) or (3) is to be rounded to the nearest cent (rounding half a cent upwards).