Document ID: chunk:federal_register_of_legislation:F2024C00993:reg:11
Version: federal_register_of_legislation:F2024C00993
Segment Type: reg
Provision Reference: reg 11
Character Range: 14849–15642

11  Amount of CAPS payment
 (1) The amount of the CAPS payment for a financial year is $694.80.
 (2) However, if a person is approved under section 6 as a participating person after the beginning of a financial year, the CAPS payment for the person for that financial year is calculated on a pro rata basis, being the period starting on the date the application under section 6 was received and ending on 30 June (inclusive) of the financial year.
Example: A person applies on 1 August 2020. The person's CAPS payment is calculated for the period 1 August to 30 June 2021 (inclusive).
 (3) A participating person may not receive:
 (a) more than the amount of the CAPS payment for a financial year in any one financial year;
 (b) more than one payment for the same period in a financial year.