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Exempt Lump Sums
Exempted lump sums
Lump sums can be exempted from the income test under VEA. An amount received by a person is an exempt lump sum if it is:
not a periodic payment (within the meaning of subsection 5K(1A),
not income from remunerative work undertaken by the person, and
is an amount, or one of a class of payments that the Commission determines to be an exempt lump sum.
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One element of the means test for income support pensions whereby the rate of pension payable to a pensioner reduces progressively as their income increases above a certain threshold known as the income free area (IFA).
According to Section 179 of the VEA, the Commission is a body corporate under the name of Repatriation Commission.