Social Security Exempt Lump Sum Determination No. 1 of 2003 (FACS) (Cth)

Commonwealth of Australia

Social Security Act 1991

Social Security Exempt Lump Sum
Determination No. 1 of 2003

I, Alex Dolan, Assistant Secretary, Seniors and Means Test Branch and a delegate of the Secretary of the Department of Family and Community Services, make this determination under paragraph 8(11)(d) of the Social Security Act 1991.

Dated             7 March   2003.

Alex Dolan

Assistant Secretary, Seniors and Means Test Branch

Part 1        Preliminary

1.1                   Name of determination

This determination is the Social Security Exempt Lump Sum Determination No. 1 of 2003.

1.2                   Commencement

This determination commences on the date it is signed.

1.3                   Definitions

In this determination:

Act means the Social Security Act 1991.

exit assistance means the one-off payment of financial assistance made by the Commonwealth of up to $45,000 for growers in the sugar industry as announced on 25 September 2002 by the Hon. Warren Truss MP, Minister for Agriculture, Fisheries and Forestry.

Part 2        Exempt Lump Sums

2.1                   Amount or class of amounts

Paragraph 8(11)(d) of the Act provides that an amount, or class of amounts, received by a person is an exempt lump sum if the amount, or class of amounts, is determined to be an exempt lump sum.

2.2                   Application—Exempt Lump Sums

It is appropriate to determine that an amount, or class of amounts, paid to a person, on or after the announcement on 25 September 2002 of the one-off payment of exit assistance is an exempt lump sum for the purposes of paragraph 8(11)(d) of the Act from the date that the one-off payment is made to the person.