A Veterans' Affairs customer is qualified for an aged persons savings bonus payment under this Part 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 another time: see sections 21 and 22.

(d)

the amount of the bonus payment, worked out under section 30, is greater than nil.