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Veterans’ Entitlements Income (Exempt Lump Sum - Compensation paid by Aviva Australia) Determination (No. R8/2008)

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Repatriation Commission
Veterans’ Entitlements Act 1986
Veterans’ Entitlements Income (Exempt Lump Sum — Compensation paid by Aviva Australia) Determination
 
Instrument No. R8/2008
I, JEANETTE RICKETTS, Senior Executive Band 1 (Income Support and Aged Care Policy Group), Department of Veterans’ Affairs, and delegate of the Repatriation Commission, determine, under paragraph 5H(12)(c) of the Veterans’ Entitlements Act 1986 (VEA), that an amount specified in Part 2 of the Schedule as an exempt lump sum is an exempt lump sum for the purposes of the definition of “ordinary income” in subsection 5H(1) of the VEA.
 
 
Dated 19  February 2008
 
 
 
 
Jeanette Ricketts………………………..…………….………………
JEANETTE RICKETTS
 
SCHEDULE
Part 1: Preliminary and Interpretation
1.                Explanation
1.1             Paragraph 5H(12)(c) of the VEA enables the Repatriation Commission to determine that an amount, or one of a class of amounts, is an exempt lump sum.  The consequence of the determination is that the amount, or class of amounts, is not ordinary income for the purposes of the VEA.
1.2    Name of Determination
1.2.1       This determination is the Veterans’ Entitlements Income (Exempt Lump Sum – Compensation paid by Aviva Australia) Determination
No. R8 of 2008.
1.3           Commencement of Determination
1.3.1       This Determination is taken to have commenced on the date it is signed but has effect in relation to relevant amounts received, or assistance provided, before the commencement of this determination.
1.4           Definitions
1.4.1       In this Determination:
“income support payment” means a service pension or income support supplement.
“income support supplement” means the payment called the income support supplement payable under Part IIIA of the VEA.
“service pension” has the meaning given to service pension in subsection 5Q(1) of the VEA.
 
 
 
 
“Compensation paid by Aviva Australia” means a one-off compensation payment paid by Aviva Australia to certain people whose income support payments were affected (either directly or indirectly) as a result of Aviva Australia incorrectly recording the purchase price amount which was recorded on one or more of the following income stream products:
(i)                 Navigator Personal Retirement Plan – Allocated Pension;
(ii)               Navigator Personal Retirement Plan – Growth Pension; and
(iii)       the PremiumChoice Retirement Service – Allocated Pension.
 
Part 2:   Exempt Lump Sum
2.                Exempt Lump Sum — Compensation paid by Aviva Australia
2.1             Amount or class of amounts
(1)   Paragraph 5H (12)(c) of the VEA enables the Repatriation Commission to determine that an amount, or one of a class of amounts, is an exempt lump sum.
(2)   If:
(a)              a person or a person’s partner has received Compensation paid by Aviva Australia; and
(b)              the person is in receipt of, or has claimed, an income support payment;
then any amount received by the person or the person’s partner, as  Compensation paid by Aviva Australia is an exempt lump sum.

2.2             Application – Exempt Lump Sums
I determine that an amount, or class of amounts, paid to a person as mentioned in paragraph 2.1 (2)(a) is an exempt lump sum for the purposes of paragraph 5H (12) (c) of the VEA from the date that the payment is made.