Veterans' Entitlements Income (Exempt Lump Sum - Superannuation Co-contribution Amounts) Determination 2016 (No. R11/2016) (Cth)

Veterans’ Entitlements Act 1986

Veterans’ Entitlements Income (Exempt Lump Sum — Superannuation Co-contribution Amounts) Determination 2016

Instrument 2016 No. R11

I, MARK HARRIGAN, delegate of the Repatriation Commission, hereby determine under paragraph 5H(12)(c) of the Veterans’ Entitlements Act 1986 (VEA) that an amount specified in this determination as an exempt lump sum is an exempt lump sum for the purposes of the definition of “ordinary income” in subsection 5H(1) of the VEA.

Dated this                  22nd   day of             February                    2016

Mark Harrigan

………………………………………………………..
MARK HARRIGAN

Part 1: Preliminary and Interpretation

1.1Name of Determination

This determination is the Veterans’ Entitlements Income (Exempt Lump Sum – Superannuation Co-contribution Amounts) Determination 2016.

1.2    Commencement

This determination commences on the day after registration.

1.3    Revocation

The Veterans’ Entitlements Income (Exempt Lump Sum – Superannuation Co-contribution Amounts) Determination No.R7 of 2006 is revoked.

1.4    Definitions          

In this Determination:

income support payment means the payment called the income support supplement payable under Part IIIA of the VEA.

service pension has the meaning given to Service pension in subsection 5Q(1) of the VEA.

Superannuation Co-contribution Amount  means a co-contribution payable under the Superannuation (Government Co-Contribution For Low Income Earners) Act 2003. to individuals who have an annual income below the higher co-contribution income threshold, make eligible personal superannuation contributions and have employer-supported superannuation.

Part 2: Exempt Lump Sum

1. Exempt Lump Sum— Superannuation Co-contribution Amounts

2.1If:

(a)a person or a person’s partner has received a Superannuation Co-contribution Amount; and

(b)the person is eligible for, or in receipt of, a service pension or income support supplement;

then the amount received by the person or the person’s partner, as a Superannuation Co-contribution Amount, is an exempt lump sum.