Commonwealth Consolidated Acts

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SOCIAL SECURITY ACT 1991 - SECT 1204

Adjustment of benefit AVLs

  (1)   This Act has effect as if, on 1   July each year, the amount worked out in accordance with the following formula were substituted for the benefit "single" non - homeowner AVL:

Start formula Benefit "single" homeowner AVL plus 2 times open bracket Benefit "partnered" (item 3) non-homeowner AVL minus Benefit "partnered" (item 3) homeowner AVL close bracket end formulawhere:

"benefit "partnered" (item 3) homeowner AVL" is the current figure, as at that 1   July, for the benefit "partnered" (item   3) homeowner AVL.

"benefit "partnered" (item 3) non-homeowner AVL" is the current figure, as at that 1   July, for the benefit "partnered" (item   3) non - homeowner AVL.

"benefit "single" homeowner AVL" is the current figure, as at that 1   July, for the benefit "single" homeowner AVL.

  (2)   This Act has effect as if, on 1   July each year, the amount worked out in accordance with the following formula were substituted for the benefit "partnered" (item   2) homeowner AVL:

Start formula 2 times Benefit "partnered" (item 3) homeowner AVL end formula

where:

"benefit "partnered" (item 3) homeowner AVL" is the current figure, as at that 1   July, for the benefit "partnered" (item   3) homeowner AVL.

  (3)   This Act has effect as if, on 1   July each year, the amount worked out in accordance with the following formula were substituted for the benefit "partnered" (item   2) non - homeowner AVL:

Start formula 2 times Benefit "partnered" (item 3) non-homeowner AVL end formula

where:

"benefit "partnered" (item 3) non-homeowner AVL" is the current figure, as at that 1   July, for the benefit "partnered" (item   3) non - homeowner AVL.


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