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The Over 65 Economic Loss Test -
Special Rate - 24(2A)(e) and24(2B); Intermediate Rate - 23(3A)(e) and 23(3B)
- The purpose of this test is to determine whether the veteran who has satisfied the previous tests is suffering an economic loss, and that the loss is not one that the veteran would have been suffering otherwise.
- This test is basically the same as the Economic Loss Test for veterans under 65 and the discussion under that test is applicable here. However, specific exceptions apply only to veterans aged 65 years or over at the time of lodging their claim. These exceptions are that the loss relates specifically to the last paid work and that the ameliorating provisions of s 24(2)(b) for Special Rate or s 23(3)(b) for Intermediate Rate regarding genuinely seeking work do not apply.
- There must be a real loss of remuneration at the application date when looking at the 10-year period of last paid work. That loss, as discussed for the under 65 veterans, must be one that the veteran would not be suffering, in any event, if free of his or her accepted conditions.
- Sections 24(2B)(a) for Special Rate and 23(3B)(a) for Intermediate Rate provide that, if the veteran has 'ceased to engage' in remunerative work for reasons other than the veteran's incapacity from accepted conditions, the veteran does not meet this test .
- Sections 24(2B)(b) for Special Rate and 23(3B)(b) for Intermediate Rate provides that if the veteran is 'incapacitated' or 'prevented' from engaging in remunerative work for some other reason, then the veteran does not meet this test.
- These provisions state that if there is also another factor(s) that, during the assessment period, which would prevent the veteran from engaging in the kind of work prevented from continuing, the Over 65 Work Loss test is not satisfied. These provisions are the same as those contained in s 24(2)(a) for Special Rate and s 23(3)(a) for Intermediate Rate.