Farm Household Support (Non-farm Assets) Minister’s Rule 2016 (Cth)
made under section 92 of the
This is a compilation of the
The notes at the end of this compilation (the
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
For more information about any editorial changes made in this compilation, see the endnotes.
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
This rule is the
Farm Household Support (Non-farm Assets) Minister’s Rule 2016 .
This rule is made under the
Farm Household Support Act 2014 (the FHS Act).
Division 1 of Part 3.12 of the
Social Security Act 1991 , as modified by section 95 of the FHS Act, has effect for the purposes set out in section 91 of the FHS Act as if the following section were inserted after section 1118AC:
Application (1AA) This section applies in relation to a claim for farm household allowance that was made before the commencement of item 5 of Schedule 2 to the
Farm Household Support Amendment Act 2017 .
Interpretation (1AB) For subparagraph (1)(a)(i) and paragraph (2)(a), a reference to the
Farm Household Support Act 2014 is a reference to that Act, disregarding the amendments made by Schedule 2 to theFarm Household Support Amendment Act 2017 .
Calculation of value of person’s non‑farm assets (1) In calculating the value of a person’s non‑farm assets:
(a) disregard the value of any asset held by the person which:
(i) is not an asset of a kind described in paragraph 35(1)(a), (b) or (c) of the
Farm Household Support Act 2014 ; and(ii) is held for the purpose of the carrying out of a farm enterprise (within the meaning of the
Farm Household Support Act 2014 ) by the person or the person’s partner and is not held, or capable of being held, for any purpose other than the carrying out of a farm enterprise; and(iii) is neither cash nor an amount deposited with, or lent to, a bank or financial institution; and
Example: A milk producer holds shares in a company to which they supply milk. That company is a co‑operative: to supply milk to the company, the producer must own shares in the company, and no other persons are able to hold shares in the company. In this case the asset is held by the producer solely for the purposes of carrying out a farm enterprise and is not capable of being held for any other purpose.
(b) apply subsections (3) to (6).
Water entitlements (2) For subsections (3) to (6), a
water entitlement asset is an asset which:
(a) is not an asset of a kind described in paragraph 35(1)(a), (b) or (c) of the
Farm Household Support Act 2014 ; and(b) is a right or entitlement to water or to its holding, access, take or other use, including:
(i) a water access entitlement, being a perpetual or ongoing entitlement, by or under a law of a State or Territory, to exclusive access to a share of the water resources of an area in the State or Territory; or
(ii) a water allocation, being a specific volume of water allocated to a water access entitlement in a given period; or
(iii) an irrigation right within the meaning of the
Water Act 2007 ; or(iv) a water delivery right within the meaning of the
Water Act 2007 ; and(c) is held by the person wholly or mainly for the purpose of the carrying out of a farm enterprise (within the meaning of the
Farm Household Support Act 2014 ) by the person or the person’s partner.(3) If the person is not a member of a couple and the total value of the water entitlement assets held by the person does not exceed $1,100,000, each of those assets is to be disregarded.
(4) If the person is not a member of a couple and the total value of the water entitlement assets held by the person (the
non-partnered water assets total ) exceeds $1,100,000:
(a) the person is taken to hold one water entitlement asset; and
(b) the value of that asset is taken to be the amount by which the non‑partnered water assets total exceeds $1,100,000.
(5) If the person is a member of a couple and the total value of the water entitlement assets held by the person or the person’s partner does not exceed $1,100,000, each of those assets is to be disregarded.
(6) If the person is a member of a couple and the total value of the water entitlement assets held by the person or the person’s partner (the
partnered water assets total ) exceeds $1,100,000:(a) the person and the person’s partner are taken to hold jointly one water entitlement asset; and
(b) the value of that asset is taken to be the amount by which the partnered water assets total exceeds $1,100,000.
Charges and encumbrances (7) For the purposes of section 1121, an asset to which paragraph (1)(a) refers is to be treated as an asset to be disregarded (and an asset whose value is to be disregarded) under section 1118.
(8) To avoid doubt, section 1121 applies to a water entitlement asset when calculating the value of the water entitlement asset for the purposes of subsection (3) or (5), a non-partnered water assets total for the purposes of subsection (4) or a partnered water assets total for the purposes of subsection (6).
(9) Section 1121 does not apply in relation to an asset which paragraph (4)(a) or (6)(a) deems to be held.
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
The abbreviation key sets out abbreviations that may be used in the endnotes.
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
The
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.
If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub‑subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev…) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA = | Sch = Schedule(s) |
LIA = | Sdiv = Subdivision(s) |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub‑Ch = Sub‑Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | |
No. = Number(s) | commenced or to be commenced |
Farm Household Support (Non-farm Assets) Minister’s Rule 2016 | 5 May 2016 (F2016L00671) | 6 May 2016 (s 2) | |
Farm Household Support (Non-farm Assets) Amendment Rule 2016 | 16 Dec 2016 (F2016L01975) | 17 Dec 2016 (s 2) | — |
Farm Household Support (Non-farm Assets) Amendment Rule 2017 | 31 March 2017 (F2017L00379) | 5 April 2017 (s 2) | — |
s 2............................................. | rep LA s 48D |
s 4............................................. | rs F2016L01975; am F2017L00379 |
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