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A New Tax System (Aged Care Compensation Measures Legislation Amendment) Bill 1999
Schedule 1 Aged Care Act 1997

   

1  Section 44-25

Omit “2 times”, substitute “five-thirds times”.

2  Subsection 58-3(1)

Repeal the subsection, substitute:

             (1)  The standard resident contribution for a care recipient who is not receiving an * income support payment is an amount (rounded down to the nearest cent) equal to 1.25 times the * standard pensioner contribution.

3  Clause 1 of Schedule 1 (definition of standard pensioner contribution )

Repeal the definition, substitute:

standard pensioner contribution means an amount (rounded down to the nearest cent) equal to 81.5% of the * basic age pension amount, worked out on a per day basis.