Document ID: chunk:federal_register_of_legislation:F2015L00068:schedule:9:p2
Version: federal_register_of_legislation:F2015L00068
Segment Type: schedule
Provision Reference: sch 9 (pt 2/3)
Character Range: 156226–159309

(ii)             in lieu of an amount payable under the Act; and

         (c) the person is eligible for, or in receipt of, a service pension or income support supplement;

         then any amount received by the person, as a compensation payment, is an exempt lump sum.

         2.2 If:

              (a)              a person (VEA-person) or the partner of a VEA-person (partner) has received a compensation payment; and

              (b)             the compensation payment was paid:

                  (i)                to reimburse expenses or other financial loss incurred by the VEA-person or the partner due to an administrative error made by an employee of, or contractor to, the Department of Human Services or the Department of Veterans' Affairs; or

                  (ii)             in lieu of an amount payable to the VEA-person or to the partner under the Social Security Act 1991, the Family Assistance law or the Veterans' Entitlements Act 1986; and

              (c)              the VEA-person is eligible for, or in receipt of, a service pension or income support supplement;

         then the amount received by the VEA-person or the partner, as a compensation payment, is an exempt lump sum.

PART 3 APPLICATION – EXEMPT LUMP SUMS

         3.1 A compensation payment that is an exempt lump sum under Part 2 is an exempt lump sum on and from the date the payment was received - being a date not before the commencement of this Determination.

    Schedule 10
Note: the reference to Schedule 10 is not part of the instrument in Schedule 10.

Repatriation Commission

Veterans' Entitlements Act 1986
Veterans' Entitlements Income (Exempt Lump Sum—income received after end of market-linked income stream term) Determination

Instrument 2014 No. R74

The Repatriation Commission determines, under paragraph 5H(12)(c) of the Veterans' Entitlements Act 1986 (VEA), that an amount specified in Part 2 of the Schedule as an exempt lump sum is an exempt lump sum for the purposes of the definition of "ordinary income" in subsection 5H(1) of the VEA.

SCHEDULE

Part 1: Preliminary and Interpretation

    1.1 NAME OF DETERMINATION

This determination is the Veterans' Entitlements Income (Exempt Lump Sum—income received after end of market-linked income stream term) Determination.

1.2 COMMENCEMENT

This Determination commences when the Veterans' Affairs (Legislative Instrument Re-making Exercise) Instrument 2014 commences.

1.3 DEFINITIONS

    In this Determination:

    "market-linked income stream" means an asset-test exempt income stream which meets the requirements of subsection 5JBA(1) of the VEA.
    "service pension" has the meaning given in subsection 5Q(1) of the VEA.
    "income support supplement" means the payment called the income support supplement payable under Part IIIA of the VEA.

Part 2: Amount determined to be an exempt lump sum

2.1 AMOUNT OR CLASS OF AMOUNTS

    2.1.1        Paragraph 5H(12)(c) of the VEA provides that the Commission may determine that an amount or class of amounts received by a person,