Document ID: chunk:federal_register_of_legislation:C2004A04837:schedule:3:p5
Version: federal_register_of_legislation:C2004A04837
Segment Type: schedule
Provision Reference: sch 3 (pt 5/14)
Character Range: 137729–140409

reduction for assets.
Step 5.           Take the amount obtained in Step 4 from the amount obtained in Step 1: the result is called the assets reduced rate.
Step 6.           Work out the person's ceiling rate using points 45Y-A3 and 45Y-A4.
Step 7.           Find out, using points 45Y-A5 and 45Y-A6, whether the pension payable to the person under Part II or Part IV is compensation reduced.

                  If the pension is not compensation reduced, go directly to Step 10.

                  If the pension is compensation reduced, work out the amount of the reduction in the pension using point 45Y-A7; then go to Step 8.

SCHEDULE 2—continued

Method statement—continued
Step 8.   This Step applies only to a person whose pension under Part II or IV is compensation reduced. Add the amount of the reduction in the person's pension (see Step 7) to the person's ceiling rate (see Step 6): the result is called the adjusted ceiling rate.
Step 9.   This Step applies only to a person whose pension under Part II or IV is compensation reduced. Work out the person's provisional rate as follows: compare the adjusted income reduced rate (see Step 3), the assets reduced rate (see Step 5) and the adjusted ceiling rate (see Step 8); the person's provisional rate is equal to:
              (a) whichever is the least of those rates; or
              (b) if 2 of those rates are the same and the third one is higher—the lower rate; or
              (c) if the 3 rates are the same—those rates.
          Go now to Step 11.
Step 10.  This Step applies only to a person whose pension under Part II or IV is not compensation reduced. Work out the person's provisional rate as follows: compare the adjusted income reduced rate (see Step 3), the assets reduced rate (see Step 5) and the ceiling rate (see Step 6); the person's provisional rate is equal to:
              (a) whichever is the least of those rates; or
              (b) if 2 of those rates are the same and the third one is higher—the lower rate; or
              (c) if the 3 rates are the same—those rates.
Step 11.  Work out the amount per year (if any) for rent assistance using MODULE F below.
Step 12.  Work out the amount per year (if any) for dependent children using MODULE G below.
Step 13.  Add up the amounts obtained in Steps 11 and 12.

SCHEDULE 2—continued

Method statement—continued

Step 14.  Apply the maintenance income test to the maintenance income of the person using MODULE H below to work out the reduction for maintenance income.
Step 15.  Take the reduction for maintenance income away from the result obtained in Step 13.
Step 16.  Work out the amount per year (if any) payable by