Veterans' Affairs and Other Legislation Amendment (Pension Reform) Act 2009 (81 of 2009)

Schedule 4   Supplements

Part 3   Veterans supplement

Veterans' Entitlements Act 1986

15   Section 198F

Repeal the section, substitute:

198F Indexation of veterans supplement

(1) This section applies to the dollar amount mentioned in the following provisions:

(a) section 118C;

(b) section 118D.

(2) The dollar amount mentioned in that provision, for an indexation day on which the indexation factor is greater than one, is replaced by the amount that is worked out using the following formula:

(3) The indexation factor for an indexation day is the number worked out using the following formula:

(4) The indexation factor is to be calculated to 3 decimal places, but increased by 0.001 if the 4th decimal place is more than 4.

(5) If an amount worked out under subsection (2) is not a multiple of 20 cents, the amount is to be rounded down to the nearest multiple of 20 cents.

(6) In this section:

indexation day means 1 January 2010 and each later 1 January.