Document ID: chunk:federal_register_of_legislation:C2007A00060:clause:1_24aa:p1
Version: federal_register_of_legislation:C2007A00060
Segment Type: clause
Provision Reference: sch 1 cl 24AA (pt 1/3)
Character Range: 8157–10840

24AA  Rate of exceptional circumstances relief payment—how worked out for small business operators

 (1) The fortnightly rate at which exceptional circumstances relief payment is payable to a person who qualifies for the payment under subsection 8A(5) is the sum of the following rates:
 (a) the fortnightly rate at which:
 (i) if the person is of youth allowance age—youth allowance would be payable to the person if he or she were entitled to receive youth allowance; or
 (ii) if the person is not of youth allowance age—newstart allowance would be payable to the person if he or she were entitled to receive newstart allowance;
 (b) if the person is a member of a couple and the partner allowance rate in relation to the person's partner exceeds the income support payment rate in relation to the person's partner—the fortnightly rate that is the difference between those rates.

 (2) For the purposes of subsection (1):

income support payment rate, in relation to a person's partner, means the fortnightly rate at which that partner is receiving one (if any) of the following payments:
 (a) social security pension;
 (b) a social security benefit (except newstart allowance or youth allowance);
 (c) a pension under Part II, III or IV of the Veterans' Entitlements Act 1986.

partner allowance rate, in relation to a person's partner, means the fortnightly rate at which:
 (a) that partner is receiving partner allowance; or
 (b) partner allowance would be payable to that partner if that partner were entitled to receive partner allowance.

 (3) For the purposes of calculating a rate referred to in this section, the value of assets that are exempt assets for the purposes of this Act because the person carries on a small business is to be disregarded.

 (4) If, but for subsubparagraph 8A(1)(b)(i)(C), the person would also qualify for exceptional circumstances relief payment under subsection 8A(1), then, for the purposes of calculating a rate referred to in this section, the value of assets that are exempt assets for the purposes of this Act because the person is a farmer is also to be disregarded.

$10,000 in salary and wages from other sources disregarded—whole financial years

 (5) For the purposes of calculating a rate referred to in subsection (1) for a person, for a fortnight all or part of which falls during:
 (a) the 2006‑07 financial year; or
 (b) the 2007‑08 financial year; or
 (c) if 30 June in a later year is prescribed as the closing day for the purposes of this section, a later financial year that ends at the end of that closing day;
disregard the salary and wages of the person from other sources or, if the person is a member of a couple, the