Commonwealth Numbered Acts

SOCIAL SERVICES AND OTHER LEGISLATION AMENDMENT (SENIORS HEALTH CARD AND OTHER MEASURES) ACT 2014 (NO. 98, 2014) - SCHEDULE 1

Social Security Act 1991

1  At the end of point 1071-12

Add:

Note:          The amounts in column 3 are to be indexed on 20 September 2014 and each later 20 September in line with CPI increases (see sections 1190 to 1194).

2  Section 1190 (after table item 36)

Insert:

3  Subsection 1191(1) (after table item 26)

Insert:

4  After subsection 1192(5A)

Insert:

          (5B)  The first indexation of amounts under item 26A of the CPI Indexation Table in subsection 1191(1) is to take place on 20 September 2014.

Veterans' Entitlements Act 1986

5  At the end of point 118ZZA-11

Add:

Note 4:       The amounts in column 3 are to be indexed on 20 September 2014 and each later 20 September in line with CPI increases (see section 198FAA).

6  After section 198FA

Insert:

198FAA   Indexation of seniors health card income limit

             (1)  This section applies to the dollar amount mentioned in column 3 of item 1, 2, 3 or 4 of the table in point 118ZZA-11.

             (2)  That dollar amount, for an indexation day on which the indexation factor is greater than 1, 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 fourth decimal place is more than 4.

             (5)  If an amount worked out under subsection (2) is not a multiple of a dollar, the amount is to be rounded to the nearest multiple of a dollar (rounding up in the case of 50 cents).

             (6)  In this section:

"indexation day" means 20 September 2014 and each later 20 September.