Document ID: chunk:federal_register_of_legislation:C2009A00060:clause:4_48c
Version: federal_register_of_legislation:C2009A00060
Segment Type: clause
Provision Reference: sch 4 cl 48C
Character Range: 57413–58957

48C  Payment of quarterly pension supplement
 (1) Quarterly pension supplement is to be paid by instalments.
 (2) An instalment of quarterly pension supplement is to be paid to a person as soon as is reasonably practicable on or after the first supplement test day (the current test day) that follows a day on which an election by the person under subsection 1061VA(1) is in force.
 (3) The amount of the instalment is worked out as follows:

      Method statement
           Step 1. Divide the person's annual rate of quarterly pension supplement by 4.
           Step 2. Multiply the person's daily rate of quarterly pension supplement by the number of days (if any) during the test period for which an election by the person under subsection 1061VA(1) was not in force.
           Step 3. Multiply the person's daily rate of quarterly pension supplement by the number of days (if any) during the test period:

                (a) on which the person was qualified for seniors supplement; and
                (b) for which an election by the person under subsection 1061VA(1) was in force.

           Step 4. From the result of step 1, subtract the results of steps 2 and 3.
 (4) In this section:
supplement test day means:
 (a) 20 March; or
 (b) 20 June; or
 (c) 20 September; or
 (d) 20 December.
test period means the period:
 (a) starting on the most recent supplement test day before the current test day; and
 (b) ending on the day immediately before the current test day.

Part 4—Other amendments

Income Tax Assessment Act 1997