Advanced Search

Veterans’ Entitlements Income (Exempt Lump Sum — MBF and BUPA Australia Merger Payment) Determination No. R14 of 2008

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
Repatriation Commission
Veterans’ Entitlements Act 1986
Veterans’ Entitlements Income (Exempt Lump Sum — MBF and BUPA Australia Merger Payment) Determination
 
Instrument No. R 14 /2008
I, BARRY TELFORD, Senior Executive Band 2 ( Policy and Development Division), 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 28 May 2008
 
 
 
 
Barry Telford…………………………..…………….………………
BARRY TELFORD 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 – MBF and BUPA Australia Merger Payment) Determination No. R14 of 2008.
1.3           Commencement of Determination
1.3.1       This Determination commences on the day after it is registered.
1.4           Definitions
1.4.1       In this Determination:

“income support payment” means a service pension or income support supplement.
“service pension” has the meaning given to service pension in subsection 5Q(1) of the VEA.
“income support supplement” means the payment called the income support supplement payable under Part IIIA of the VEA.
“cash payment”  means a one-off cash payment in the range of $100 to $7,000 made to eligible participating contributors as a result of the merger of MBF and BUPA Australia.  The amount of cash payment that each participating contributor receives will depend upon the policy the contributor holds and how long they have been an MBF member.  
“eligible contributor” means a person in whose name a current health insurance policy issued by MBF is held. 
 
 
 
 
 
 
Part 2:   Exempt Lump Sum
2.                Exempt Lump Sum — MBF and BUPA Australia Merger Payment
 
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 a one-off cash payment as a result of the merger of MBF and BUPA 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 a cash payment  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.