In the SRC Act/VEA context, 'peacetime service' is simply a shorthand description of normal service in the Defence Force not involving any operational, peacekeeping or hazardous service.
Source URL (modified on 14/10/2014 - 2:40pm): https://clik.dva.gov.au/military-compensation-srca-manuals-and-resources-library/general-handbook/ch-63-veterans-entitlements-act-1986/633-peacetime-service