{"id":"F2022L00443","name":"Veterans’ Entitlements (Class of Debts – Self Managed Superannuation and Small APRA Funds) Specification 2022","slug":"f2022l00443","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":441316,"registerId":"F2022L00443-fast-fetch-1775956644807","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Veterans’ Entitlements (Class of Debts – Self Managed Superannuation and Small APRA Funds) Specification 2022","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 22.10.0\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms of Australia](image.001.jpeg)\n\n \n\nVeterans’ Entitlements (Class of Debts – Self Managed Superannuation and Small APRA Funds) Specification 2022\n\n \n\nInstrument No.M1/2022\n\nI, Andrew Gee, Minister for Veterans’ Affairs, make the following Specification.\n\nDated  25th    March            2022  \n\n……Andrew Gee…….\n\nAndrew Gee\n\nMinister for Veterans’ Affairs\n\n \n\n \n\n \n\nContents\n\n1  Name\n\n2  Commencement\n\n3  Authority\n\n4  Definitions\n\n5  Schedules\n\n6  Class of debts\n\nSchedule 1—Repeals\n\nVeterans’ Entitlements (Class of Debts – Self Managed Superannuation and Small APRA Funds) Specification 2012 (No. R9/2012)\n\n \n\n1  Name\n\n  This instrument is the Veterans’ Entitlements (Class of Debts – Self Managed Superannuation and Small APRA Funds) Specification 2022.\n\n2  Commencement\n\n (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.\n\n \n\n- Commencement information\n- Column 1 Column 2 Column 3\n- Provisions Commencement Date/Details\n- 1. The whole of this instrument The day after this instrument is registered.\n\n\nNote: This table relates only to the provisions of this instrument as originally made.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.\n\n (2) 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.\n\n3  Authority\n\n  This instrument is made under provision under subparagraph 206(1)(b)(ii) of the Veterans’ Entitlements Act 1986.\n\n4  Definitions\n\nNote: A number of expressions used in this instrument are defined in Veterans’ Entitlements Act 1986, including the following:\n\n(a) asset-test exempt income stream; and\n\n(b) asset-tested income stream (long term).\n\n  In this instrument:\n\nAct means the Veterans’ Entitlements Act 1986.\n\nAPRA means Australian Prudential Regulation Authority.\n\nmarket-linked income stream means an income stream that meets the requirements of section 5JBA of the Act, other than subparagraph 5JBA(1)(a)(i).\n\nself managed superannuation fund has the same meaning as in section 17A of the Superannuation Industry (Supervision) Act 1993.\n\nsmall APRA fund has the same meaning as in subsection 1017BB(6) of the Corporations Act 2001\n\n5  Schedules\n\n  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.\n\n6  Class of debts\n\nFor subparagraph 206(1)(b)(ii) of the Act, a debt is in a specified class of debts if:\n\n(a)    it is a debt due to the Commonwealth by a person under section 52ZMA of the Act; and\n\n(b)    the debt did not arise because the person knowingly made a false or misleading statement, or knowingly provided false information to the Commonwealth; and\n\n(c)    immediately before the commencement of this Specification, the income stream that is relevant for the purposes of section 52ZMA of the Act:\n\n1. was:\n\n\n(A)            an asset-test exempt income stream which met the requirements of either sections 5JA or 5JB of the Act; or\n\n(B)            an asset-tested income stream (long term) that was previously an asset-test exempt income stream which failed to meet the requirements of either paragraphs 5JA(1)(b) or 5JB(1A)(b) of the Act; and\n\nii.      was sourced from:\n\n(A)            a self managed superannuation fund; or\n\n(B)            a small APRA fund; and\n\n(d)    on or after the commencement of this Specification, the income stream that is relevant for the purposes of section 52ZMA of the Act is commuted and rolled over to purchase a 100 percent asset tested market-linked income stream.\n\n\n\n\nSchedule 1—Repeals\n\nVeterans’ Entitlements (Class of Debts – Self Managed Superannuation and Small APRA Funds) Specification 2012 (No. R9/2012)\n\n1  The whole of the instrument\n\nRepeal the instrument.\n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"This is a straightforward re-enactment/replacement of the 2012 Specification with the same scope. It maintains the original narrow purpose of defining a specific class of debts for veterans with SMSF/small APRA fund income streams who commute to market-linked income streams. No expansion of scope is evident."},"complexity_factors":["Multiple nested conditions in section 6 (four separate criteria, with sub-criteria i and ii under criterion c)","Cross-references to at least 5 external legislative provisions (Veterans' Entitlements Act sections 5JA, 5JB, 5JBA, 52ZMA, plus Superannuation Industry (Supervision) Act and Corporations Act definitions)","Technical superannuation terminology requiring specialist knowledge (APRA, SMSF, market-linked income streams, asset-test exempt vs asset-tested)","Temporal complexity — requires tracking status 'immediately before commencement' versus 'on or after commencement'","Repeal of previous instrument requires understanding of legislative continuity"],"plain_english_summary":"This technical update replaces a 2012 rule and defines a narrow class of veterans’ pension debts the Commonwealth may elect not to pursue. It applies where a non‑fraudulent overpayment arose from a superannuation income stream from an SMSF or small APRA fund, and the veteran later commutes that stream into a market‑linked, fully asset‑tested income stream.\n\nIt matters because it offers relief for honest, technical breaches of complex superannuation rules, limiting recovery action in those cases."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This instrument repeals the 2012 specification (Schedule 1) and re‑specifies the class of debts in clause 6 as those arising under section 52ZMA where the relevant income stream originated in a self‑managed superannuation fund or small APRA fund and has been commuted and rolled over into a 100% asset‑tested market‑linked income stream, excluding debts from knowingly false information. The repeal plus the new, narrowly framed criteria indicate a change in the operative specification; the exact policy shift relative to the 2012 text cannot be determined from this instrument alone (see Schedule 1 and clause 6)."},"complexity_factors":["Cross‑references to multiple statutes increase technical decoding: Veterans’ Entitlements Act (sections 5JA, 5JB, 5JBA, 52ZMA, 206) and external definitions in the Superannuation Industry (Supervision) Act s17A and Corporations Act s1017BB(6) (see Definitions and clause 6).","Narrow, technical eligibility criteria — source of the income stream (SMSF or small APRA fund), prior asset‑test status, and a specific post‑commutation product (100% asset‑tested market‑linked income stream) — require factual verification (clause 6(c)(i)–(ii) and 6(d)).","Exclusion for debts arising from ‘knowingly’ false or misleading information creates a legal threshold that may require evidentiary assessment (clause 6(b)).","Operational complexity for administrators: verifying fund type, prior asset‑test classification, and the precise form of commutation and rollover increases compliance and record‑checking burden (clause 6(c)–(d)).","Instrument repeals a prior specification (Schedule 1), so legal and administrative practice must adjust to the new textual test and any differences from the 2012 instrument (Schedule 1)."],"plain_english_summary":"**This instrument replaces the 2012 specification and mechanically defines a specified class of Commonwealth debts under s206(1)(b)(ii) of the Veterans’ Entitlements Act.** It treats as a specified class debts under section 52ZMA where the income stream was from a self‑managed superannuation fund or a small APRA fund and has been commuted and rolled over into a 100% asset‑tested market‑linked income stream, except where the person knowingly provided false or misleading information.\n\nIt affects veterans or other recipients who hold those income streams and changes how the Commonwealth treats and recovers those amounts."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/f2022l00443","history":"/api/acts/f2022l00443/history","analysis":"/api/acts/f2022l00443/analysis","conflicts":"/api/acts/f2022l00443/conflicts","importantCases":"/api/acts/f2022l00443/important-cases","documents":"/api/acts/f2022l00443/documents"}}