Commonwealth Numbered Acts

SEAFARERS REHABILITATION AND COMPENSATION ACT 1992 No. 234, 1992 - SECT 34

34.(1) This section applies to an employee who:

   (a)  is incapacitated for work as a result of an injury; and

   (b)  retires (whether voluntarily or otherwise) from his or her employment
        at any time after the commencement of this section; and

   (c)  as a result of the retirement, receives a lump sum benefit under a
        superannuation scheme; and

   (d)  has not rolled-over the lump sum benefit into another superannuation
        fund or an approved deposit fund.

(2) Compensation is payable to the employee for the injury under this section
for each week after the date of the retirement during which the employee is
incapacitated.

(3) The amount of compensation is an amount worked out using the formula:
Unadjusted amount of - Superannuation + Superannuation
       compensation              amount          contributions

520 where:

"Unadjusted amount of compensation" means the amount of compensation that
would have been payable to the employee for a week if:

   (a)  section 31, other than subsection 31(8), had applied to the employee;
        and

   (b)  the week were a week referred to in subsection 31(4);

"Superannuation amount" means the superannuation amount received by the
employee as a lump sum;

"Superannuation contributions" means the amount of superannuation
contributions that would have been required to be paid by the employee in that
week if he or she were still contributing to the superannuation scheme.

(4) In this section:

"approved deposit fund" has the same meaning as in Subdivision AA of Division
2 of Part III of the Income Tax Assessment Act 1936;

"rolled-over" has the same meaning as in Subdivision AA of Division 2 of Part
III of the Income Tax Assessment Act 1936;

"superannuation fund" has the same meaning as in Subdivision AA of Division 2
of Part III of the Income Tax Assessment Act 1936.