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:

where:

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:

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:

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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