Section 79K — Veterans' Entitlements Act 1986: Amount of advance payment

(1) The amount of an advance payment of pension is the smaller of the following amounts: (a) the amount of advance payment sought; (b) the maximum amount of advance payment payable to the person as worked out as follows: Method statement Step 1. Work out 3/52 of the person’s advance payment eligible amount. Step 2. Work out the annual rate at which pension was payable to the person on the last payday before the application for the advance payment was made, disregarding: (a) any amount payable by way of remote area allowance; and (b) so much of the person’s pension supplement amount (if any) as is equal to the person’s minimum pension supplement amount. Step 3. Work out the smaller of the result of step 1 and: (a) if the pension is a service pension or income support supplement—7.5% of the result of step 2; and (b) otherwise—13 times the fortnightly rate of pension payable to the person. Step 4. Subtract the following from the result of step 3: (a) each advance payment (if any) of pension paid to the person during any of the 13 fortnights immediately before the application for the current advance payment was made; (b) each other advance payment (if any) of pension paid to the person that has not been fully repaid. Step 5. The result of step 4 (rounded to the nearest cent (rounding 0.5 cents upwards)) is the maximum amount of advance payment payable to the person. Note 1: The amount of the advance payment will be more than the minimum eligible amount for the person (see paragraph 79B(2)(a)). Note 2: For advance payment eligible amount, see subsection 5Q(1).