Commonwealth of Australia Explanatory Memoranda

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VETERANS' AFFAIRS LEGISLATION AMENDMENT BILL (NO. 1) 2000

1998-1999-2000

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

HOUSE OF REPRESENTATIVES

VETERANS’ AFFAIRS LEGISLATION AMENDMENT BILL (NO.1) 2000

SUPPLEMENTARY EXPLANATORY MEMORANDUM

Amendment to be Moved on Behalf of the Government






(Circulated by authority of the
Minister for Veterans’ Affairs,
The Hon Bruce Scott, MP)

ISBN: 0642 440441

OUTLINE

This amendment to the Veterans' Affairs Legislation Amendment Bill (No. 1) 2000 will complete amendments required to a formula in the Veterans' Entitlements Act 1986 .

Financial impact
There is no financial impact.

Amendment

Amendment 1 inserts new Item 47A into Part 10 of Schedule 1 of the Bill.
New Item 47A amends the formula, in paragraph 59Q(7)(b) of the VEA, which is used to calculate a lump sum preclusion period for an income support payment for a person who has received a lump sum compensation payment. The amendment will ensure that the calculation reflects the 40 cents in the dollar taper rate, reduced from 50 cents in the dollar, introduced as part of the GST compensation package.

Commencement

Subclause 2(3) provides that Part 10 of Schedule 1 is taken to have commenced on
1 July 2000.

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