B64/1994 DECEMBER 1994 QUARTERLY ADVICES

DATE OF ISSUE: 19 DECEMBER 1994

DECEMBER 1994 QUARTERLY ADVICES

TABLE OF CONTENTS

DEPARTMENTAL INSTRUCTION NO: B58/94...................1

Introduction...............................................................23

Associated Departmental Instructions............................................23

Regulation 45A certification...................................................23

Pensioners For Whom An Advice Will Be Generated.................................24

Components for the December Quarterly Advice Mailout..............................24

Indexation - DCAO & GA...............................................24

1993 Budget Initiative..................................................24

$2 Increase of Dependant Child Add On (DCAO)..............................24

Background.........................................................24

Legislative Requirements...............................................24

Contact Officer.......................................................24

Quarterly Advice Processing - DCAO & GA........................................25

Client Impact........................................................26

Pharmaceutical Allowance..............................................26

Cancellation of PA for Overseas Clients....................................26

Quarterly Advice Processing - PA Cancellation...............................26

Client Impact........................................................26

On-line Shares.......................................................26

'Global' Reassessment.................................................26

Quarterly Advice Processing - Shares......................................26

Managed Investments.................................................27

'Global' Reassessment.................................................27

Quarterly Advice Processing - Managed Investments...........................27

Advices - General..........................................................27

ADP Processing.....................................................27

Timetable..........................................................27

Holding of Daily Advices................................................27

Despatch of Quarterly Advices...........................................29

Reprint of Selected Advices.............................................29

Liaison with Ferntree Computer Centre (NCC)................................29

Contact numbers.....................................................29

ATTACHMENT A.....................................................30

Reassessment of Managed Investments..........................................31

Payment Details...........................................................31

PAYMENTS TO ARTHUR GUNNER and BARBARA GUNNER.........................31

Managed Investments.......................................................31

GUIDE TO TABLE..........................................................32

Your Right of Review........................................................32

Your Obligations to the Department.............................................32

Changes You Have Already Told Us About........................................33

Pharmaceutical Allowance....................................................34

Reassessment of Managed Investments..........................................34

Payment Details...........................................................34

PAYMENTS TO HARRY HOWITZER and HORTENSE HOWITZER......................34

Cancellation of Pharmaceutical Allowance.........................................34

Managed Investments.......................................................35

GUIDE TO TABLE..........................................................35

Your Right of Review........................................................35

Your Obligations to the Department.............................................35

Changes You Have Already Told Us About........................................36

Child Related Payments......................................................38

Shares..................................................................38

Payment Details...........................................................38

PAYMENTS TO BRIAN HAMMEL and SUSAN HAMMEL.............................38

Shares and Securities assessed as PRE-19 August 1992 acquisitions.....................40

Your Right of Review........................................................40

Your Obligations to the Department.............................................40

Changes You Have Already Told Us About........................................40

Child Related Payments......................................................43

Reassessment of Managed Investments and Shares.................................43

Payment Details...........................................................43

PAYMENTS TO TOM POUNDER and HELEN POUNDER.............................43

Managed Investments.......................................................45

GUIDE TO TABLE..........................................................45

Shares and Securities assessed as ON or POST-19 August 1992 acquisitions...............45

OFFSETTING PROVISIONS..................................................45

Shares and Securities assessed as PRE-19 August 1992 acquisitions.....................45

Your Right of Review........................................................46

Your Obligations to the Department.............................................46

Changes You Have Already Told Us About........................................46

1.INTRODUCTION........................................................53

2.BACKGROUND.........................................................53

History of TC1 for War Widow/ers (Issue of 1993 cards - Nov 1992)................53

Impact of Extension of Fringe Benefits from 1/4/93.............................54

3.TARGET POPULATION...................................................54

4.REQUIREMENTS.......................................................55

5.TIMINGS..............................................................55

6.PROCESSING RUN.....................................................55

7.FORMAT/PROCESSING..................................................56

NSW and VIC.......................................................56

QLD..............................................................56

WA...............................................................56

Streaming of tape output...............................................56

Special Register Clients................................................56

Overseas clients.....................................................56

8.System Requirements....................................................57

New South Wales, Victoria and Queensland.................................57

Western Australia....................................................57

Record Sequence....................................................57

9.PRINTING, PERSONALISING AND MAIL PROCESSING..........................57

Surplus Blank Card Stock...............................................57

Quality Control - Production Runs at Contractor...............................57

Machine Damaged or Incompletely Addressed Cards...........................57

Schedule Reports....................................................57

Manual Issues - New Grants and Replacements..............................58

CONTACT OFFICER........................................................58

DEPARTMENTAL INSTRUCTION NO: B68/94...................58

ISSUE OF 1995 PENSIONER CONCESSION CARD................................58

1................................................................INTRODUCTION 59

2................................................................BACKGROUND 59

3................................................................TARGET POPULATION 59

4.CHANGES......................................................60

5.CARDS/CARRIERS................................................60

5.1 — General...................................................60

5.1.2 — Personalised client details will be provided to the contractor responsible for the final printing and despatching of the cards for the bulk run in December 1994, and initially for the ongoing weekly runs. You will be notified of alternate arrangeme 60

5.2 — Card.....................................................61

5.3 — Carrier....................................................61

5.4 — Vouchers..................................................61

6.REPLACEMENT TRAVEL VOUCHERS.................................62

7.FREQUENCY OF ISSUE............................................62

8.CLIENTS NOT ELIGIBLE FOR A PCC..................................62

9.CLIENTS NOT ISSUED WITH A DVA PCC...............................63

10.BULK ISSUE FOR BORDER TOWN CASES..............................63

11.SPECIAL ISSUE CASES............................................63

12.ISSUE REPORTS.................................................64

13.INSERTS.......................................................64

14.TIMEFRAME.....................................................64

15.DVA SYSTEMS...................................................64

16.AUDIT TRAIL....................................................64

17.LOSS OF ELIGIBILITY..............................................65

18.EVALUATION....................................................65

19................................................................CONTACT OFFICERS 65

Introduction

The Department's Quarterly Advices facility has been designed to enhance communication between the Department and the veteran community. In general, Quarterly Advices are sent in March, June, September and December of each year. Advices are sent to service pensioners; some disability pensioners; and some war widows under varying conditions.

The size of the mailout is dependent on the issues (eg. Budget changes, June Tax Certificates etc) current at that time and in line with changes to frequency of advices which were introduced in September for implementation from this quarterly advice run. Refer to Departmental Instruction No. B38/94.

2.The December 1994 Quarterly Advice mailout will incorporate the following events for pay-day 5 January 1995:

.DCAO & GA indexation and $2 rise in DCAO for dependent children under 16;

.cancellation of pharmaceutical allowance for clients residing overseas;

.shares reassessment; and

.managed investment reassessment.

3.The reassessment processing run and advice production will be conducted on the weekend of 17/18 December 1994. No fortnightly run for deprived assets, fees or Profit will be done prior to the weekend Quarterly Advice run. MIs and shares refresh and end POG will be included as part of the 'global' processing.

4.The major reassessment program ("BAL") will be run to reassess cases affected by any of the events above. Detailed ADP processing requirements will be sent separately to Branch System Support Officers.

Associated Departmental Instructions

5.DI B26/92 outlined general principles covering the issue of quarterly advices. Changes have been made to the format and frequency of advices. More details are can be obtained in the System Rules for the September 1994 Quarterly Advices Mailout.

System Support Officers have been provided with copies of the rules for this processing run, entitled December 1994 Quarterly Advices System Rules and Components, which contains details of paragraph wording.

6.The payment processing is scheduled from Friday evening 16 December till Sunday evening 18 December 1994. A processing timetable appears later in this instruction.

Regulation 45A certification

7.The Assistant Secretary of both Benefits Planning & Management and IT Applications Branches in Central Office will attest to the correctness of the new data and the programs used to conduct the exercise. Certificates in the terms of Finance Regulation 45A will be forwarded to the Authorising Officer in your Finance Branch.

Pensioners For Whom An Advice Will Be Generated

8.A quarterly advice is to be produced:

(a)where DCAO or GA components of service pension is indexed or varied due to family payment changes and/or increases on 5 January 1995;

(b)where service pension is varied as a result of pharmaceutical allowance cancellation from 5 January 1995 for clients residing overseas; and

(c)where a service pension is varied as a result of the managed investments and shares reassessment.

9.The estimated numbers of advices for this run are as follows:

Shares reassessment - variations only	1,500
MI reassessment - variations only	17,000
Family Payments	3,000
PA cancellation - Service pensioners residing overseas	2,500

TOTAL	24,000

Components for the December Quarterly Advice Mailout

Indexation - DCAO & GA

10.In general terms, family payments will be increased with effect from 5 January 1995. Dependent Child Add On and Guardians Allowance are to be increased in line with movements in the consumer price index (CPI).

1993 Budget Initiative

$2 Increase of Dependant Child Add On (DCAO)

11.From 1 January 1995, the maximum rate of DCAO payable in respect of children who have not turned 16 will be increased by $2 a fortnight per child.

Background

12.As part of the 1993 Budget process, the Government agreed that from 1 January 1995 the maximum rate of additional family payment paid by the Department of Social Security should be increased by $2 a fortnight per child under 16. The increase in the amount of additional family payment will assist low income earners and the unemployed to offset increases in the wholesale sales tax announced in the 1993 budget. This initiative flows-on to service pensioners providing for an increase to DCAO rates that are payable in respect of children who have not turned 16. The $2 increase will apply after the adjustment of the DCAO rates has taken place on 1 January 1995.

Legislative Requirements

13.The provision to pay the extra $2 is contained in subsections 59F(3) & (4) of the Veterans' Affairs Amendment Bill (No. 2) 1994.

Contact Officer

14.The contact officer for this initiative is John Ramsay. John can be contacted in Benefits PD&I Central Office on 06 289 6409.

Quarterly Advice Processing - DCAO & GA

15.A quarterly advice will be produced for all pensioners who are in receipt of DCAO and GA and affected by indexation, and the $2 increase in DCAO. The range of paragraphs, the circumstances under which these will be applied and the paragraph wording are shown in the December 1994 Quarterly Advices System Rules & Components document. Mock-up sample advices are at Attachment A.

Client Impact

16.Approximately 3,000 pensioner households will receive a quarterly advice regarding

DCAO and GA indexation.

Pharmaceutical Allowance

Cancellation of PA for Overseas Clients

17.Pharmaceutical Allowance was introduced in 1990 to compensate pensioners for the cost of the Australian pharmaceutical patient contribution under the Pharmaceutical Benefits Scheme. In the May 1994 Budget, the Government announced that pensioners who live overseas will no longer be entitled to a payment of Pharmaceutical Allowance from 1/1/95. Payment of PA is to be cancelled from payday 5 January 1995 for service pensioners residing overseas.

Quarterly Advice Processing - PA Cancellation

18.A quarterly advice with a 'Pharmaceutical Allowance cancellation paragraph' will be produced for any assessment where PA is cancelled. The effective date for this action is 5 January 1995. The range of paragraphs, the circumstances under which these will be applied and the paragraph wording are shown in the December 1994 Quarterly Advices System Rules & Components document. Mock-up sample advices are at Attachment A.

Client Impact

19.Approximately 2,500 pensioner households will receive a quarterly advice advising them that Pharmaceutical Allowance has been cancelled.

On-line Shares

'Global' Reassessment

20.A 'Global' reassessment run will be conducted for pay-day 5 January 1995. The reassessment program will reassess both pre and on or post 19 August 1992 shares. Reassessment of on or post 19 August 1992 shares may have a direct effect (due to the MI/shares offsetting provisions) on the income assessed for managed investments.

21.There may be increases, decreases or continuations as a result of reassessment. All shares acquired before 19 August 1992 are 'saved' and assessed under the old rules.

22.Payments which may be affected include service pension, DCAO, GA and RA.

Quarterly Advice Processing - Shares

23.Quarterly advice paragraphs will be produced for service pensioners with shares and who continue to receive less than maximum rate pension or who will be reducing to less than maximum rate with effect from 5 January 1995. Additional paragraphs regarding the new offsetting provisions will be included where a person has both managed investments and on or post 19 August 1992 shares recorded in the assessment.

24.The range of paragraphs, the circumstances under which these will be applied and the paragraph wording are shown in the December 1994 Quarterly Advices System Rules & Components document. Mock-up sample advices are at Attachment A.

Managed Investments

'Global' Reassessment

25.A 'Global' reassessment run will be conducted for pay-day 5 January 1995. There may be increases, decreases or continuations as a result of the reassessment.

26.Payments which may be affected include service pension, DCAO, GA and RA.

Quarterly Advice Processing - Managed Investments

27.Quarterly advice paragraphs will be produced for service pensioners with managed investments and who continue to receive less than maximum rate pension or who will be reducing to less than maximum rate with effect from 5 January 1995. Additional paragraphs regarding the new offsetting provisions will be included where a person has both managed investments and on or post 19 August 1992 shares recorded in the assessment.

28.The range of paragraphs, the circumstances under which these will be applied and the paragraph wording are shown in the December 1994 Quarterly Advices System Rules & Components document. Mock-up sample advices are at Attachment A.

Advices - General

ADP Processing

29.Detailed information regarding ADP Processing will be issued to State Systems Support Officers in a separate memorandum. The Systems Support Officers will be issuing a local processing timetable and should be consulted on any matter concerning ADP Processing.

Timetable

30.Key time frames of advices are summarised below. The first processing run will begin on the evening of Friday 16 December 1994.

DATE	EVENT
Fri 16 Dec 94	Cut off for pay period 65 (22/12/94).
Fri 16 Dec 94	Day 1 processing for pay day 66. Daily advices from this processing to be despatched immediately
Fri 16 Dec (pm) to Sat 17 Dec 94	BAL re-assessment run.
Sat 17 Dec 94	Quarterly Advices processing runs.
Mon 19 until cut off for payday 67	Examiner action on manual schedules for SP, DP. & QAs progressively lodged with Australia Post from 19 Dec to 23 Dec.

Holding of Daily Advices

31.Cases processed in advance for day 1 of 5 January 1995 should have the daily advice despatched prior to the Quarterly Advice being sent.

32.Daily payment advices produced after the processing run on 17/18 December 1994 for pay period 66 (5 January 1995) should be held by Branch Offices until confirmation is received from the Quarterly Advices Project Manager in Central Office to release such advices. This will ensure that pensioners who have pension variations processed for payday 5 January 1995 will receive their daily advice after the quarterly advice rather than in advance of it.

33.To minimise the number of daily advices to be held whilst quarterly advices are processed, it is suggested that only manual cases (and essential processing) should be processed for pay day 5 January 1995. General pensions processing should continue unabated but should be submitted for the subsequent pay day ie. pay period 67 - 19 January 1995.

Despatch of Quarterly Advices

34.The quarterly advices will be progressively lodged with Australia Post by the mailing house in Canberra, during the period 19 December 1994 to 23 December 1994. As soon as each State's advices have been lodged, the CO Project Manager will advise the appropriate Branch contact officer.

Reprint of Selected Advices

35.Any requests for reprints of individual Quarterly Advices should be referred to Branch Office System Support Officers.

Liaison with Ferntree Computer Centre (NCC)

36.The Veterans Services Applications Branch will provide NCC with a schedule of computer runs for this exercise. Benefits SM&S Section will supply an after hours contact number closer to the processing date.

Contact numbers

37.Any enquiries on the December Quarterly Advice mailout should be directed to Mary Martin Client Communications in Communication, Operations and Review on (06) 289 6743. Facsimile messages should be sent to (06) 289 6553.

DAVID MACKRELL

ASSISTANT SECRETARY

INCOME SUPPORT

ATTACHMENT A

Mock-up Samples

Mock-up 1

The first mock-up represents an advice type for a service pensioner couple affected by the reassessment of managed investment products.

Mock-up 2

This mock-up represents an advice type for a service pensioner couple residing overseas and affected by the cancellation of pharmaceutical allowance and reassessment of managed investment products.

Mock-up 3

This mock-up represents an advice type for a service pensioner couple affected by family payments and the reassessment of shares.

Mock-up 4

This mock-up represents an advice for a service pensioner couple affected by family payments, the reassessment to shares and managed investment reassessment. This type of advice is the most complex scenario for the December mailout.

SERVICE PENSIONER COUPLE - Managed Investment only

Commonwealth Department of

Veterans' Affairs

BRANCH OFFICE

Centennial Plaza

280 Elizabeth Street

Sydney NSW 2000

Postal Address:

ARTHUR GUNNER

GPO Box 3994, Sydney NSW 2001

BARBARA GUNNER

1 BLACKPOWDER DRIVE

Telephone:

BOOMTOWN NSW 2222

Metropolitan residents:2137777

Country residents: 008 257251

5 January 1995

YOUR FILE NUMBER IS NX543210

Dear Mr and Mrs Gunner

This letter gives you details of your pension payment from Veterans' Affairs.

Reassessment of Managed Investments

Managed investment products have been reassessed for payday 5 January 1995. The income and assets values for all your managed investments are detailed separately in this letter.

Payment Details

The fortnightly rate of pension you will receive from 5 January 1995 is set out below.

PAYMENTS TO ARTHUR GUNNER and BARBARA GUNNER


TOTAL FORTNIGHTLY PAYMENT	$267.90	$267.90
Comprising:
-Service pension	265.30	265.30
-Pharmaceutical allowance	2.60	2.60

Managed Investments

Managed Investment	Units	Asset Value	Rate of Return/ Cents Per Unit	Fee Deduction Per Fortnight	Income Per Fortnight (Less Fee Deduction)
MANCHESTER UNITY HIBERNIAN FRIENDLY SOCIETY -S- FLEXISHIELD BOND Ongoing Income Only	N/A	$9,136.78	8.100%	N/A	$28.46
SCHRODES AUSTRALIA MANAGEMENT LTD - N - PROPERTY FUND - ORDINARY UNITS Income Plus Capital Growth	2,387	$5,203.66	22.000c	N/A	$20.19
TOTAL MANAGED INVESTMENT INCOME FOR PENSION PURPOSES					$48.65

GUIDE TO TABLE

Ongoing Income Only - Income is assess as it accrues based upon any dividends and any rise or fall in the value of the investment over a 12 month period, and only whilst the investment is held.

Income Plus Capital Growth - In addition to any income distributions that may currently be assessed, capital growth may also be assessable if the investment matures, or it is sold, surrendered, transferred, gifted, or it is fully or partially withdrawn.

Your Right of Review

If you do not agree with a decision affecting your rate of service pension, you may apply to have it reviewed by a delegate of the Repatriation Commission. The Delegate may decide the original decision was correct, or may decide to change it. If the decision is changed, your pension may be increased or reduced.

Any request for a review must be made in writing within three months of the day you receive this letter. Your letter should state the specific grounds for your request for review.

Your Obligations to the Department

Your obligations have been explained to you in previous advices. These obligations still apply, but the relevant income and asset levels may have changed. These are shown below.

Your service pension is paid under the income test at less than the maximum rate. You must tell the Department within 21 days if your combined income (apart from Veterans' Affairs pensions) rises above $797 a fortnight. You must also tell us if the value of your assets rises above $240,000.

You can do this by telephoning or writing to us or by visiting any Department of Veterans' Affairs office. If you telephone, we may ask you to confirm information in writing or to send us certain documents which are related to the matter.

If you do not tell us of these changes you may be overpaid. Penalties apply for failing to fulfil your obligations or for providing false or misleading information. The authority for this obligation is under Section 54 of the Veterans' Entitlements Act.

Changes You Have Already Told Us About

If you have told us recently about a change to your income and assets or your domestic situation, it may not have been processed before this letter was sent. If so, we will send you another letter as soon as the change has been finalised.

If you have any questions about any of the above matters, please contact this office at the address or telephone number shown at the top of this letter.

Yours sincerely,

G K Stonehouse

Deputy Commissioner as

Delegate of the Secretary

SERVICE PENSIONER COUPLE - Managed Investment; Overseas and PA cancelled

Commonwealth Department of

Veterans' Affairs

BRANCH OFFICE

Centennial Plaza

280 Elizabeth Street

Sydney NSW 2000

Postal Address:

HARRY HOWITZER

GPO Box 3994, Sydney NSW 2001

HORTENSE HOWITZER

1 EXPLOSIVE AVENUE

Telephone:

CRATERVILLE OVERSEAS

Metropolitan residents:2137777

Country residents: 008 257251

5 January 1995

YOUR FILE NUMBER IS NX786450

Dear Mr and Mrs Howitzer

This letter gives you details of your pension payment from Veterans' Affairs.

Pharmaceutical Allowance

A change to entitlement to pharmaceutical allowance will take effect from 5 January 1995. This change is explained later in this letter.

Reassessment of Managed Investments

Managed investment products have been reassessed for payday 5 January 1995. The income and assets values for all your managed investments are detailed separately in this letter.

Payment Details

The fortnightly rate of pension you will receive from 5 January 1995 is set out below.

PAYMENTS TO HARRY HOWITZER and HORTENSE HOWITZER


TOTAL FORTNIGHTLY PAYMENT	$265.30	$265.30
Comprising:
-Service pension	265.30	265.30

Cancellation of Pharmaceutical Allowance

Pharmaceutical Allowance was introduced in 1990 to compensate pensioners for the cost of the Australian pharmaceutical patient contribution under the Pharmaceutical Benefits Scheme. In the May 1994 Budget, the Government announced that pensioners who live overseas will no longer be entitled to a payment of Pharmaceutical Allowance from January 1995.

Your Pharmaceutical Allowance payment has been cancelled from 5 January 1995. If you return to Australia, you should immediately notify the Department so that payment of Pharmaceutical Allowance can be made to you once again.

Managed Investments

Managed Investment	Units	Asset Value	Rate of Return/Cents Per Unit	Fee Deduction Per Fortnight	Income Per Fortnight (Less Fee Deduction)
MANCHESTER UNITY HIBERNIAN FRIENDLY SOCIETY -S- FLEXISHIELD BOND Ongoing Income Only	N/A	$9,136.78	8.100%	N/A	$28.46
SCHRODES AUSTRALIA MANAGEMENT LTD - N - PROPERTY FUND - ORDINARY UNITS Income Plus Capital Growth	2,387	$5,203.66	22.000c	N/A	$20.19
TOTAL MANAGED INVESTMENT INCOME FOR PENSION PURPOSES					$48.65

GUIDE TO TABLE

Ongoing Income Only - Income is assess as it accrues based upon any dividends and any rise or fall in the value of the investment over a 12 month period, and only whilst the investment is held.

Your Right of Review

Any request for a review must be made in writing within three months of the day you receive this letter. Your letter should state the specific grounds for your request for review.

Your Obligations to the Department

Your obligations have been explained to you in previous advices. These obligations still apply, but the relevant income and asset levels may have changed. These are shown below.

Changes You Have Already Told Us About

If you have any questions about any of the above matters, please contact this office at the address or telephone number shown at the top of this letter.

Yours sincerely,

G K Stonehouse

Deputy Commissioner as

Delegate of the Secretary

SERVICE PENSIONER COUPLE - Family Payments and Shares (19/8/92).

Commonwealth Department of

Veterans' Affairs

BRANCH OFFICE

Centennial Plaza

280 Elizabeth Street

Sydney NSW 2000

Postal Address:

BRIAN HAMMEL

GPO Box 3994, Sydney NSW 2001

SUSAN HAMMEL

1 ROUND CIRCUIT

Telephone:

CAPITAL NSW 2111

Metropolitan residents: 213 7777

Country residents: 008 257251

5 January 1995

YOUR FILE NUMBER IS NX555550

Dear Mr and Mrs Hammel

This letter gives you details of your pension payment from Veterans' Affairs.

Child Related Payments

Increases to Child Payments will take effect from 5 January 1995. These payments have been increased in line with movements in the consumer price index. The Government has also decided to increase the Dependant Child Add On by $2 per fortnight for each child under the age of sixteen. Both parts of the increase will be paid on pay day 5 January 1995.

These increases are in line with the Government's strategy to provide improved financial assistance to veterans and their families.

Your shares have been reassessed for payday 5 January 1995. The income and assets values for all your listed shares are detailed separately in this letter.

Payment Details

The fortnightly rate of pension you will receive from 5 January 1995 is set out below.

PAYMENTS TO BRIAN HAMMEL and SUSAN HAMMEL


TOTAL FORTNIGHTLY PAYMENT	$272.80	$202.60
Comprising:
-Service pension	200.00	200.00
-Dependant Child Add-On	69.20
-Pharmaceutical Allowance	2.60	2.60

Shares and Securities assessed as PRE-19 August 1992 acquisitions.

Share	No of shares	Asset Value	Dividend (Cents per share)	Income Per Fortnight
CRA LTD. - $1.00 ORDINARY FULLY PAID	5,200	$32,240	7.2129	$14.40
BROKEN HILL PTY LTD - $1.00 ORDINARY FULLY PAID	3,540	$49,614	8.5996	$11.70
M.I.M. HOLDINGS LTD - $0.50 ORDINARY FULLY PAID	1,100	$4,950	9.1980	$3.89
TOTAL PRE 19/8/92 SHARE INCOME FOR PENSION PURPOSES				$29.99

Your Right of Review

Any request for a review must be made in writing within three months of the day you receive this letter. Your letter should state the specific grounds for your request for review.

Your Obligations to the Department

Your obligations have been explained to you in previous advices. These obligations still apply, but the relevant income and asset levels may have changed. These are shown below.

Changes You Have Already Told Us About

If you have any questions about any of the above matters, please contact this office at the address or telephone number shown at the top of this letter.

Yours sincerely,

G K Stonehouse

Deputy Commissioner as

Delegate of the Secretary

SERVICE PENSIONER COUPLE WITH RENT ASSISTANCE - Family Payments, Shares (pre & post 19/8/92) and Managed Investments.

Commonwealth Department of

Veterans' Affairs

BRANCH OFFICE

Centennial Plaza

280 Elizabeth Street

Sydney NSW 2000

Postal Address:

TOM POUNDER

GPO Box 3994, Sydney NSW 2001

HELEN POUNDER

100 FIRE LANE

Telephone:

BATTERY TOWN 2456

Metropolitan residents: 213 7777

Country residents: 008 257251

5 January 1995

YOUR FILE NUMBER IS NX121212

Dear Mr and Mrs Pounder

This letter gives you details of your pension payment from Veterans' Affairs.

Child Related Payments

Increases to Child Payments will take effect from 5 January 1995. These payments have been increased in line with movements in the consumer price index (CPI). The Government has also decided to increase the Dependent Child Add On by $2 per fortnight for each child under the age of sixteen. Both parts of the increase will be paid on pay day 5 January 1995.

These increases are in line with the Government's strategy to provide improved financial assistance to veterans and their families.

Reassessment of Managed Investments and Shares

Managed investment products and shares have been reassessed for payday 5 January 1995. The income and assets values for all your managed investments are detailed separately in this letter.

Payment Details

The fortnightly rate of pension you will receive from 5 January 1995 is set out below.

PAYMENTS TO TOM POUNDER and HELEN POUNDER


TOTAL FORTNIGHTLY PAYMENT	$294.00	$224.80
Comprising:
-Service pension	190.00	190.00
-Rent Assistance	32.20	32.20
-Dependant Child Add-On	69.20
-Pharmaceutical Allowance	2.60	2.60

Managed Investments

Managed Investment

Units

Asset

Value

Rate of

Return/

Cents

Per Unit

Fee

Deduction

Per

Fortnight

Income Per

Fortnight

(Less Fee

Deduction)

MANCHESTER UNITY HIBERNIAN FRIENDLY SOCIETY - S - FLEXISHIED BOND

Ongoing Income Only

N/A

$19,136.70

-8.100%

N/A

-$59.61

SCHRODES AUSTRALIA MANAGEMENT LTD - N - PROPERTY FUND - ORDINARY UNITS

2,387

$5,203.66

22.000c

N/A

$20.19

MANAGED INVESTMENT INCOME FOR PENSION PURPOSES

-$39.42

GUIDE TO TABLE

Ongoing Income Only - Income is assessed as it accrues based upon any dividends and any rise or fall in the value of the investment over a 12 month period, and only whilst the investment is held.

Income Plus Capital Growth - In addition to any income distributions that may currently be assessed, capital growth may also be assessable if the investment matures, or it is sold, surrendered, transferred, gifted, or it is fully or partially withdrawn.

Shares and Securities assessed as ON or POST-19 August 1992 acquisitions.

No. of

Asset

Value

Rate of

Return

Income Per

Fortnight

CRA LTD - $1.00 ORDINARY FULLY PAID

10,000

$12,000

25.00%

$115.38

BROKEN HILL PTY LTD - $1.00 ORDINARY FULLY PAID

4,127

$50,000

20.27%

$195.27

M.I.M. HOLDINGS LTD - $0.50 ORDINARY FULLY PAID

218

$2184

-4.20%

-$3.42

LESS TOTAL FEE DEDUCTION AS DEDUCTIBLE INCOME

$57.24

ON OR POST 19/8/92 SHARE INCOME FOR PENSION PURPOSES

$249.99

OFFSETTING PROVISIONS

For pension purposes, any fees or negative income included in the assessment of managed investments or shares can be offset against any positive income assessed against ongoing managed investments or listed shares assessed as acquired on or post-19/8/92. The total for fees, ongoing managed investment income and income for listed shares assessed as acquired on or post-19/8/92 is shown below. Note: if this total is negative, no income is recorded for service pension purposes.

TOTAL INCOME FOR PENSION PURPOSES from ONGOING MANAGED INVESTMENTS and SHARES ASSESSED AS ACQUIRED ON OR POST 19/8/92

$210.57

Shares and Securities assessed as PRE-19 August 1992 acquisitions.

No. of

Asset

Value

Dividend (Cents per share)

Income Per

Fortnight

CRA LTD - $1.00 ORDINARY FULLY PAID

5,200

$32,240

7.2129

$14.40

BROKEN HILL PTY LTD - $1.00 ORDINARY FULLY PAID

3,540

$49,614

8.5996

$11.70

M.I.M. HOLDINGS LTD - $0.50 ORDINARY FULLY PAID

1,100

$4,950

9.1980

$3.89

TOTAL PRE 19/8/92 SHARE INCOME FOR PENSION PURPOSES

$29.99

Your Right of Review

Any request for a review must be made in writing within three months of the day you receive this letter. Your letter should state the specific grounds for your request for review.

Your Obligations to the Department

Your obligations have been explained to you in previous advices. These obligations still apply, but the relevant income and asset levels may have changed. These are shown below.

Your service pension is paid under the income test at less than the maximum rate. You must tell the Department within 21 days if your combined income (apart from Veterans' Affairs pensions) rises above $227 a fortnight. You must also tell us if the value of your assets rises above $290,500.

Changes You Have Already Told Us About

If you have any questions about any of the above matters, please contact this office at the address or telephone number shown at the top of this letter.

Yours sincerely,

G K Stonehouse

Deputy Commissioner as

Delegate of the Secretary

Source URL: https://clik.dva.gov.au/compensation-and-support-reference-library/departmental-instructions/1994/b641994-december-1994-quarterly-advices