Aged persons savings bonus component

(1)

A Family and Community Services customer is qualified for the aged persons savings bonus component of a bonus payment if:

(a)

he or she is aged 60 or more on 1 July 2000; and

(b)

he or she is an Australian resident on 1 July 2000; and

(c)

his or her annual retirement income is less than $30,000 and he or she has annual savings and investment income; and

Note: The customer's annual retirement income and annual savings and investment income are worked out based on 2 qualifying years or the customer's circumstances at the time his or her bonus entitlement is determined under this Part: see sections 5 and 6.

(d)

the amount of the component, worked out under subsection 16(2), is greater than nil.

Self-funded retirees supplementary bonus component—person aged over 61 ¹ /2 (woman) or over 65 (man)

(2)

A Family and Community Services customer is qualified for the self-funded retirees supplementary bonus component of a bonus payment if:

(a)

on 1 July 2000, he is aged 65 or more or she is aged 61 ¹ /2 or more; and

(b)

he or she is an Australian resident on 1 July 2000; and

(c)

his or her annual retirement income is less than $30,000 and he or she has annual savings and investment income of more than $1,000; and

(d)

at least one of the following applies:

(i)

he or she did not receive a disqualifying payment at any time during the period from the start of 1 April 2000 until the end of 1 July 2000;

(ii)

he or she received a disqualifying payment during the period from the start of 1 April 2000 until the end of 30 June 2000, his or her partner died during that period and he or she is not receiving a disqualifying payment on 1 July 2000;

(iii)

he or she received a disqualifying payment during the period from the start of 1 April 2000 until the end of 1 July 2000 in a circumstance prescribed by the regulations for the purposes of this subparagraph; and

(e)

the amount of the self-funded retirees supplementary bonus component, worked out under subsection 16(3), is greater than nil.

Note: The customer's annual retirement income and annual savings and investment income are worked out based on either of 2 qualifying years or the customer's circumstances at the time his or her bonus entitlement is determined under this Part: see sections 5 and 6.

Self-funded retirees supplementary bonus component—person aged between 55 and 61 ¹ /2 (woman) or 65 (man)

(3)

A Family and Community Services customer is qualified for the self-funded retirees supplementary bonus component of a bonus payment if:

(a)

on 1 July 2000:

(i)

he or she is aged 55 or more; and

(ii)

he is aged under 65 or she is aged under 61 ¹ /2; and

(b)

he or she is an Australian resident on 1 July 2000; and

(c)

his or her annual retirement income is less than $30,000 and he or she has annual savings and investment income; and

(d)

his or her annual business and wages income does not exceed $1,000; and

(e)

he or she did not receive a disqualifying payment at any time during the year beginning on 1 July 1999; and

(f)

the amount of the self-funded retirees supplementary bonus component, worked out under whichever of subsections 16(3) and (4) applies, is greater than nil.

Note 1: The customer's annual retirement income and annual savings and investment income are worked out based on either of 2 qualifying years or the customer's circumstances at the time his or her bonus entitlement is determined under this Part: see sections 5 and 6.

Note 2: The customer's annual business and wages income is worked out based on the customer's circumstances at the time his or her bonus entitlement is determined under this Part: see section 7.