Social Security (Exempt Lump Sum – Taxi Reform Hardship Payment) Determination 2016 (Cth)

Social Security (Exempt Lump Sum – Taxi Reform Hardship Payment) Determination 2016

I, Anita Davis, delegate of the Secretary of the Department of Social Security, make the following determination.

Dated               22 September            2016.

Anita Davis

Acting Branch Manager
International and Means Test Policy Branch
Department of Social Services
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1. Name

This instrument is the Social Security (Exempt Lump Sum – Taxi Reform Hardship Payment) Determination 2016.

1. Commencement

1. Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1.  The whole of this instrument	The day after this instrument is registered.

Note:               This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

1. Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

1. Authority

This instrument is made under paragraph 8(11)(d) of the Social Security Act 1991.

1. Definitions

In this instrument:

Act means the Social Security Act 1991.

Taxi Reform Hardship Fund means a fund established by the Victorian Government to provide a one-off ex-gratia lump sum payment to assist taxi licence owners who have experienced severe financial distress as a direct result of reforms made following the 2012 Taxi Industry Inquiry which devalued perpetual taxi licences and the earning capacity of licence holders.

perpetual taxi licence owners experiencing severe financial distress means persons who had an ownership interest in a taxi licence between 28 March 2011 and 1 July 2013 and as a direct result of the Taxi Industry Inquiry and subsequent reforms are currently experiencing both:

(a)    a deficiency in income that would not allow provision for either themselves or their immediate family the necessities of food, shelter, clothing, medical expenses, education for children and other basic requirements; and

(b)   an inability to liquidate assets in order to either meet the costs of those necessities outlined above or to pay outstanding debts as and when they fall due.

taxi reform hardship payment means a payment made from the Taxi Reform Hardship Fund by the Victorian Department of Economic Development, Jobs, Transport and Resources to perpetual taxi licence owners experiencing severe financial distress.  

1. Exempt lump sum

For the purposes of paragraph 8(11)(d) of the Act, the gross amount of a taxi reform hardship payment made from the Taxi Reform Hardship Fund is an exempt lump sum.