Document ID: chunk:federal_register_of_legislation:C2009A00060:clause:12_1061eca
Version: federal_register_of_legislation:C2009A00060
Segment Type: clause
Provision Reference: sch 12 cl 1061ECA
Character Range: 152305–154425

1061ECA  Amount of advance payment—age, disability support, wife and widow B pensions and carer payment

Application
 (1) The amount of an advance payment of any of the following social security pensions is worked out according to this section:
 (a) age pension;
 (b) disability support pension;
 (c) wife pension;
 (d) carer payment;
 (e) widow B pension.

Amount of advance
 (2) The amount of the advance payment is the smaller of the following amounts:
 (a) the amount of advance payment sought;
 (b) the maximum amount of advance payment payable to the person as worked out as follows:

      Method statement
           Step 1. Work out 3/52 of the person's advance payment qualifying amount.
           Step 2. Work out the annual rate at which the social security pension was payable to the person on the last payday before the application for the advance payment was lodged, disregarding:

                (a) any amount payable by way of remote area allowance; and
                (b) so much of the person's pension supplement amount (if any) as is equal to the person's minimum pension supplement amount.

           Step 3. Work out the smaller of the result of step 1 and 7.5% of the result of step 2.
           Step 4. Subtract the following from the result of step 3:

                (a) each advance payment (if any) of a social security entitlement paid to the person during any of the 13 fortnights immediately before the application for the current advance payment was lodged;
                (b) each other advance payment (if any) of a social security entitlement paid to the person that has not been fully repaid.

           Step 5. The result of step 4 (rounded to the nearest cent (rounding 0.5 cents upwards)) is the maximum amount of advance payment payable to the person.
Note 1: The amount of the advance payment will be more than the minimum qualifying amount for the person (see paragraph 1061A(3)(a)).
Note 2: For advance payment qualifying amount, see subsection 23(1).
Note: The heading to section 1061ED is replaced by the heading "Amount of advance payment—pension PP (single)".