10.8.8.40 Proportional Income - Agreement with the Netherlands
Article 15 of the Agreement with the Netherlands provides that only a proportion of any Netherlands' old-age benefit (AOW) is to be assessed as income when calculating the rate of Australian pension paid overseas. This concessional treatment only applies when the person's Australian benefit is proportionalised (10.8.8.20). For the general method of working out proportional income see 10.1.9.40 Calculating Proportional Income under Agreements.
See also 10.8.8.60 for details of Netherlands' benefits disregarded from Australia's income test under Article 15.
Act reference: SS(IntAgree)Act Schedule 7 The Netherlands