The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia. Proportional Income - Agreement with Korea

Proportional income

The Agreement with Korea provides for proportionalisation of Korean benefits under the income test as in This means that only a proportional amount of Korean old-age pension received by the person is assessed as income under the income test.

That proportion is calculated by multiplying the number of whole months accumulated by that person in a period of AWLR (not exceeding 300) by the amount of that benefit under the legislation of Korea and dividing that product by 300.

Korean income is only proportionalised while the rate of the Australian pension is also proportionalised.

Act reference: SS(IntAgree)Act Schedule 21 Republic of Korea

Policy reference: SS Guide Calculating proportional income under Agreements, Rate Calculation - Background (Agreement with Korea), Outside Australia Rate - Agreement with Korea, Lump Sum Refunds - Agreement with Korea

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