Income—income stream is a military invalidity pension income stream
46VAA Income—income stream is a military invalidity pension income stream
If the asset‑test exempt income stream to which this Subdivision applies is a military invalidity pension income stream, the amount that the person is taken to receive from the income stream each year is worked out as follows:
Start formula Annual payment minus Special reduction amount end formula
where:
annual payment means the amount payable to the person for the year under the income stream.
special reduction amount means the sum of the amounts that would be the tax free components, worked out under Subdivision 307‑C of the Income Tax Assessment Act 1997, of the payments received from the military invalidity pension income stream during the year, if it were assumed that the military invalidity pension income stream is a superannuation income stream within the meaning of that Act.
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