Amount of advance payment—age and disability support pensions and carer payment
1061ECA Amount of advance payment—age and disability support pensions and carer payment
Application
The amount of an advance payment of any of the following social security pensions is worked out according to this section:
age pension;
disability support pension;
carer payment.
Amount of advance
The amount of the advance payment is the smaller of the following amounts:
the amount of advance payment sought;
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:
any amount payable by way of remote area allowance; and
so much of the person’s pension supplement amount (if any) as is equal to the person’s minimum pension supplement amount; and
the person’s energy supplement (if any).
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:
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;
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.
The amount of the advance payment will be more than the minimum qualifying amount for the person (see paragraph 1061A(3)(a)).
For advance payment qualifying amount, see subsection 23(1).
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