A New Tax System (Bonuses for Older Australians) Act 1999 (REPEALED)
Part 3
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Veterans' Affairs customers who qualify for bonus payment
Division 3
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Qualification for bonus payment
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Qualification for aged persons savings bonus payment
A Veterans' Affairs customer is qualified for an aged persons savings bonus payment under this Part if:
(a) he or she is aged 60 or more on 1 July 2000; and
(b) he or she is an Australian resident on 1 July 2000; and
(c) his or her annual retirement income is less than $30,000 and he or she has annual savings and investment income; and
(d) the amount of the bonus payment, worked out under section 30 , is greater than nil.
A Veterans' Affairs customer is qualified for an aged persons savings bonus payment under this Part if:
(a) he or she is aged 60 or more on 1 July 2000; and
(b) he or she is an Australian resident on 1 July 2000; and
(c) his or her annual retirement income is less than $30,000 and he or she has annual savings and investment income; and
Note:
The customer's annual retirement income and annual savings and investment income are worked out based on 2 qualifying years or the customer's circumstances at another time: see sections 21 and 22 .
(d) the amount of the bonus payment, worked out under section 30 , is greater than nil.
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