Jeffress and Secretary, Department of Social Services (Social services second review)

The Administrative Appeals Tribunal considered the dispute between Mr Jeffress and the Secretary of the Department of Social Services concerning the assessment of Mr Jeffress's eligibility for the age pension under the assets and income tests. The core of the disagreement revolved around the valuation of Mr Jeffress's shares during a period of exceptional economic circumstances, specifically the COVID-19 pandemic.

The Tribunal was required to determine whether the Secretary's decision to revalue Mr Jeffress's shares in a bulk revaluation process, which resulted in a higher assessed value for assets test purposes, was correct. This involved considering whether the circumstances of the COVID-19 pandemic constituted "exceptional economic circumstances" that warranted such a revaluation under the relevant social security legislation.

The Tribunal affirmed the Secretary's decision, finding that the Secretary had acted within their powers in conducting a bulk revaluation of shares during the COVID-19 pandemic. The Tribunal reasoned that the pandemic presented a situation of exceptional economic circumstances, justifying the use of a bulk revaluation methodology to ensure the accurate application of the assets test. The decision underscored the Secretary's discretion to undertake such revaluations when market volatility or other exceptional factors could distort asset values.