Veterans' Entitlements Income Exempt Lump Sum Determination No. 1 of 2003 (Cth)

Commonwealth of Australia

VETERANS’ ENTITLEMENT ACT 1986

Veterans’ Entitlements Income Exempt Lump Sum

Determination No. 1 of 2003

I, ROBERT TURNER, Acting Branch Head, Income Support Branch and delegate of the Repatriation Commission, hereby determine the “amount or one of a class of amounts” specified in Part 2 of the attached Schedule to this instrument to be an “exempt lump sum” in accordance with paragraph 5H(12)(c) of the Veterans’ Entitlements Act 1986.

Dated this 25th day of March 2003

ROBERT TURNER

Delegate

Veterans’ Entitlements Income Exempt Lump Sum

Determination No.1 of 2003

Schedule

Part 1:       Preliminary and Interpretation

1.1NAME OF DETERMINATION

This determination is the Veterans’ Entitlements Income Exempt Lump Sum Determination No. 1 of 2003

1.2COMMENCEMENT

This determination commences on the date it is signed.

1.3DEFINITIONS

In this determination:

“Act” means the Veterans’ Entitlements Act 1986

“exit assistance” means the one-off payment of financial assistance made by the Commonwealth of up to $45,000 for growers in the sugar industry as announced on 25 September 2002 by the Hon. Warren Truss MP, Minister for Agriculture, Fisheries and Forestry.

PART 2:    Exempt Lump Sums

2.1Amount or Class of Amounts

Paragraph 5H(12)(c) OF THE Act provides that an amount, or class of amounts, received by a person is an exempt lump sum if the amount, or class of amounts, is determined to be a lump sum.

2.2Application- Exempt Lump Sums

It is appropriate to determine that an amount, or class of amounts, paid to a person, on or after the announcement on 25 September 2002 of the one-off payment of exit assistance is an exempt lump sum for the purposes of paragraph 5H(12)(c) of the Act from the date that the one-off payment is made to the person.