Section 54 — Social Security (Administration) Act 1999: Rounding off instalments of social security payments

(1) In this section: instalment means an instalment of a social security payment. Note: Subsection 43(3E) affects what is an instalment of a social security periodic payment if the Secretary has determined under subsection 43(3A) that a person is to be paid the total amount of a social security periodic payment relating to an instalment period in 2 payments. (2) If the amount of an instalment would be: (a) one or more whole dollars and a part of a cent; or (b) one or more whole dollars and cents and a part of a cent; the amount is to be increased or decreased to the nearest whole cent. (3) If the amount of an instalment would be: (a) one or more whole dollars and 0.5 cent; or (b) one or more whole dollars and cents and 0.5 cent; the amount is to be increased by 0.5 cent. (4) If, apart from this subsection, the amount of an instalment would be less than $1.00, the amount is to be increased to $1.00.