Commonwealth Consolidated Acts

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SOCIAL SECURITY ACT 1991 - SECT 1061ZZAS

Reduction of youth allowance, austudy payment or pensioner education supplement for financial supplement

             (1)  The period for which a payment of financial supplement will be made is an instalment period .

             (2)  Subject to subsection (3), the rate of youth allowance, austudy payment or pensioner education supplement that would have been payable to the person in an instalment period is reduced by an amount equal to one-half of the amount of financial supplement to be paid during the instalment period under the financial supplement contract.

             (3)  If, apart from this subsection, the amount by which the rate would be reduced is an amount including one-half of a cent, the amount is to be increased by one-half of a cent.

             (4)  This section has effect despite any other provision of this Act.



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