Veterans’ Entitlements (Value of Asset-tested Income Streams (Lifetime)) Amendment Determination 2020 (Cth)

Repatriation Commission

Veterans’ Entitlements (Value of Asset‑tested Income Streams (Lifetime)) Amendment Determination 2020

Instrument 2020 No. R4

The Repatriation Commission makes this instrument under subsection 52BAB(4) of the Veterans’ Entitlements Act 1986.

Dated this  25^th     day        of   February        2020

The Seal of the                  )                   
Repatriation Commission )     SEAL             
was affixed hereto in the   )  
presence of:   )     

Elizabeth Cosson	Donald Spinks
ELIZABETH COSSON	DONALD SPINKS
AM CSC	AM
PRESIDENT	COMMISSIONER

1  Name

This instrument is the Veterans’ Entitlements (Value of Asset-tested Income Streams (Lifetime)) Amendment Determination 2020.

2  Commencement

This instrument commences on 1 January 2020.

3  Authority

This instrument is made under subsection 52BAB(4) of the Veterans’ Entitlements Act 1986.

4  Schedule

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1 – Amendments

Veterans’ Entitlements (Value of Asset‑tested Income Streams (Lifetime)) Determination 2019

1. Section 4 (definition of Life Tables)

Repeal the definition, substitute:

Life Tables means:

(a)    if a person’s assessment day for an asset-tested income stream (lifetime) is before 1 January 2020—the Australian Life Tables 2010‑2012 published by the Australian Government Actuary; or

(b)   if a person’s assessment day for an asset-tested income stream (lifetime) is on or after 1 January 2020—the Australian Life Tables 2015-17 published by the Australian Government Actuary.