Veterans' Entitlements Act 1986

In this section, unless the contrary intention appears:

the rate under subsection 22(4);

the rate under subsection 23(4);

the rate under subsection 24(4).

the period that started on 15 November 1989 and ended on 17 April 1990; and

the period that started on 18 April 1990 and ended on 19 September 1990; and

the period of 6 months that started on 20 September 1990; and

each later period of 6 months (other than the period of 6 months that started on 20 September 1992).

the rate specified in item 1, 2, 3, 4, 5 or 6 in the table in subsection 27(1) (in column 2);

the amount specified in paragraph 30(1)(c).

Subject to subsection (3), if at any time, whether before or after the commencement of this Act, the Statistician has published or publishes an index number in respect of a quarter in substitution for an index number previously published by the Statistician in respect of that quarter, the publication of the later index number shall be disregarded for the purposes of this section.

If at any time, whether before or after the commencement of this Act, the Statistician has changed or changes the index reference period for the consumer price index, then, for the purposes of the application of this section after the change took place or takes place, regard shall be had only to index numbers published in terms of the new index reference period.

Where the factor ascertained, in relation to a relevant period, in accordance with subsection (5) is greater than 1, this Act has effect as if for each relevant rate there were substituted, on the first day of that period:

subject to the other paragraphs of this subsection—a rate calculated by multiplying by that factor:

in the case to which subparagraph (ii) does not apply—the relevant rate; or

if, by virtue of another application or several other applications of this section, this Act has had effect as if another rate were substituted, or other rates were successively substituted, for the relevant rate—the substituted rate or the last substituted rate, as the case may be;

where a relevant rate calculated in accordance with paragraph (a) (in this paragraph referred to as the calculated rate) is a rate per fortnight and is not a multiple of $0.10 per fortnight—a rate equal to:

if the calculated rate exceeds the next lower rate that is such a multiple by $0.05 per fortnight or more—the next higher rate that is such a multiple; or

if the calculated rate exceeds the next lower rate that is such a multiple by less than $0.05 per fortnight—the next lower rate.

For indexation of each above general rate, see subsection (5E).

The factor to be ascertained for the purposes of subsection (4) in relation to a relevant period:

is the number, calculated to 3 decimal places, ascertained by dividing:

if the relevant period starts between 1 January and 30 June (inclusive)—the index number for the last preceding December quarter; or

if the relevant period starts between 1 July and 31 December (inclusive)—the index number for the last preceding June quarter;

if the number so ascertained would, if it were calculated to 4 decimal places, end in a number greater than 4—is the number so ascertained increased by 0.001; or

if the relevant period starts on or after 20 March 2013 and the brought‑forward CPI indexation amount for the period is more than 0—is the number worked out under paragraph (a) or (b) of this subsection reduced by that amount, but not below 1.

This Act has effect as if, on each adjustment day, there were substituted, for the general rate, the rate worked out using the following formula and rounded up to the nearest $0.10:

This Act has effect as if, on each adjustment day, there were substituted, for each above general rate, the rate worked out using the following formula and rounded up to the nearest $0.10:

This Act has effect as if, on each adjustment day, there were substituted, for the rate in paragraph 30(1)(b), the rate worked out using the following formula and rounded up to the nearest $0.10:

Where, by virtue of the application of this section, this Act has effect as if another rate were substituted for a relevant rate or an above general rate on the first day of a relevant period, the substitution, in so far as it affects instalments of a pension under this Act, has effect in relation to every instalment of the pension that falls due on or after the first day of that period, as the case may be, but, if a pension is granted, or the rate of a pension is increased, after the first day of that period as from a date before the first day of that period, the substitution, in so far as it affects instalments of that pension, does not have effect in relation to an instalment of that pension in respect of a period that commenced before the first day of that period.