Financial hardship provisions can apply to people who, because of their assets, are prevented from receiving any, or receive a reduced rate of, either service pension or income support supplement.
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A request for consideration under the hardship rules must be made in writing. The request must contain sufficient information to determine whether the claimant satisfies the eligibility criteria.
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If a person cannot, or cannot be reasonably expected to sell or use an asset as security for borrowing then the asset is deemed to be an unrealisable asset.
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Severe financial hardship is based on the following four criteria:
To calculate the rate of service pension or income support supplement payable under the hardship provisions, the person's adjusted annual rate of ordinary income [6] is deducted from the maximum payment rate [6] of service pension or income support supplement.
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A person's notional rate of income is the amount per year equal to 2.5% of the person and the person's partner's unrealisable assets, or the amount per year that could reasonably be expected to be obtained from a purely commercial application of the assets.
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According to Section 52Z(3) of the VEA a person's adjusted annual rate of ordinary income is an amount per year equal to the sum of:
Links
[1] https://clik.dva.gov.au/user/login?destination=node/16869%23comment-form
[2] https://clik.dva.gov.au/book/export/html/16869#tgt-cspol_part3_ftn274
[3] https://clik.dva.gov.au/book/export/html/16869#tgt-cspol_part3_ftn275
[4] https://clik.dva.gov.au/book/export/html/16869#tgt-cspol_part3_ftn276
[5] https://clik.dva.gov.au/book/export/html/16869#tgt-cspol_part3_ftn277
[6] https://clik.dva.gov.au/%23
[7] https://clik.dva.gov.au/book/export/html/16869#tgt-cspol_part3_ftn278
[8] https://clik.dva.gov.au/book/export/html/16869#tgt-cspol_part3_ftn279
[9] https://clik.dva.gov.au/compensation-and-support-policy-library/part-3-income-support-eligibility/310-financial-hardship/3102-access-financial-hardship-rules
[10] https://clik.dva.gov.au/book/export/html/16869#ref-cspol_part3_ftn274
[11] https://clik.dva.gov.au/compensation-and-support-policy-library/part-3-income-support-eligibility/310-financial-hardship/3103-lodging-claim-under-financial-hardship-provisions
[12] https://clik.dva.gov.au/book/export/html/16869#ref-cspol_part3_ftn275
[13] https://clik.dva.gov.au/compensation-and-support-policy-library/part-3-income-support-eligibility/310-financial-hardship/3104-unrealisable-assets
[14] https://clik.dva.gov.au/book/export/html/16869#ref-cspol_part3_ftn276
[15] https://clik.dva.gov.au/compensation-and-support-policy-library/part-3-income-support-eligibility/310-financial-hardship/3105-severe-financial-hardship
[16] https://clik.dva.gov.au/book/export/html/16869#ref-cspol_part3_ftn277
[17] https://clik.dva.gov.au/compensation-and-support-policy-library/part-3-income-support-eligibility/310-financial-hardship/3106-rate-calculation-under-hardship-provisions
[18] https://clik.dva.gov.au/book/export/html/16869#ref-cspol_part3_ftn278
[19] https://clik.dva.gov.au/compensation-and-support-policy-library/part-3-income-support-eligibility/310-financial-hardship/3107-notional-annual-rate-ordinary-income
[20] https://clik.dva.gov.au/book/export/html/16869#ref-cspol_part3_ftn279
[21] http://www.comlaw.gov.au/Series/C2004A03268