Source: http://clik.dva.gov.au/print/book/export/html/16247
Timestamp: 2019-10-15 14:03:18
Document Index: 436125774

Matched Legal Cases: ['art 5', 'art-5', 'art5', 'art5', 'art5', 'art5', 'art5', 'art5', 'art5', 'art5']

﻿ Calculation of Pension Loan
Home > Compensation and Support Policy Library > Part 5 Income Support Allowances and Benefits > 5.4 Pension Loans Scheme > 5.4.4 Payment of Pension Loans Scheme > Calculation of Pension Loan
The maximum loan available to a person is calculated according to a set formula using the age component amount [3] to set a loan limit as a percentage of secured assets.
Maximum loan = Age component amount [3] x (value of real assets [3] - nominated amount / $10,000
Section 52ZJ [7] VEA
Section 52ZCA(1) [7] VEA - Maximum loan available under the Pension Loans Scheme
Section 52ZCA(3) [7] VEA - Age component amount table
Section 52ZCA(2) [7] VEA
Section 52ZB [7] VEA
A person's age for the purpose of the table is his or her age at his or her last birthday. In the case of a couple, it is the age of the younger member of the couple on his or her last birthday. Refer to subsection 52ZCA [12] of the VEA for a full definition. The Age Component Amount table is found in the Social Security (Pension Loans Scheme – Age Component Amount) Determination 2019. [13]
Source URL (modified on 02/07/2019 - 3:00pm): http://clik.dva.gov.au/compensation-and-support-policy-library/part-5-income-support-allowances-and-benefits/54-pension-loans-scheme/544-payment-pension-loans-scheme/calculation-pension-loan
[1] http://clik.dva.gov.au/user/login?destination=node/16247%23comment-form
[2] http://clik.dva.gov.au/book/export/html/16247#tgt-cspol_part5_ftn96
[4] http://clik.dva.gov.au/book/export/html/16247#tgt-cspol_part5_ftn97
[5] http://clik.dva.gov.au/book/export/html/16247#tgt-cspol_part5_ftn98
[6] http://clik.dva.gov.au/book/export/html/16247#tgt-cspol_part5_ftn99
[8] http://clik.dva.gov.au/book/export/html/16247#ref-cspol_part5_ftn96
[9] http://clik.dva.gov.au/book/export/html/16247#ref-cspol_part5_ftn97
[10] http://clik.dva.gov.au/book/export/html/16247#ref-cspol_part5_ftn98
[11] http://clik.dva.gov.au/book/export/html/16247#ref-cspol_part5_ftn99
[13] https://www.legislation.gov.au/Details/F2019L00420