Commonwealth Consolidated Acts Commonwealth Consolidated ActsScope
(1) This section applies if, apart from this section:
(a) an amount (the initial amount ) would be an excluded amount under subsection 115G(1) or (2) in respect of a veteran and a pension period; and
(b) the veteran's work bonus income (within the meaning of section 46AA) would be reduced by one or more amounts (each of which is a reduction amount ) under section 46AA in relation to that period.
Income reduction under section 46AA
(2) If the total of the reduction amounts is more than the initial amount:
(a) subsection 115G(1) or (2), as the case may be, does not apply in relation to that veteran and that period; and
(b) subsections 46AA(2) to (4A) do apply in relation to that veteran and that period.
Income reduction under section 115G
(3) If the total of the reduction amounts is less than or equal to the initial amount:
(a) subsections 46AA(2) to (4A) do not apply to reduce the veteran's work bonus income in relation to that period, but they do apply for the purposes of working out any adjustment to the veteran's unused concession balance in relation to that period (as if those reductions had occurred); and
(b) subsection 115G(1) or (2), as the case may be, does apply in relation to that veteran and that period.
Note: Subsections 115G(1) and (2) are about excluding income amounts for certain veterans.
Example: Jim has $100 of work bonus income in a pension period. Jim's rate of service pension or income support supplement for that period is greater than nil. Assume Jim also has an amount of $100 worked out under subsection 115G(1) in relation to that period.
There is no reduction in Jim's work bonus income under section 46AA for that period, but $100 is excluded under subsection 115G(1).
Under subsection 46AA(4A), Jim's unused concession balance is increased by $200.