{"id":"F2017L00060","name":"Social Security (Exempt Lump Sum - Market-linked Income Stream) Determination 2017","slug":"social-security-exempt-lump-sum-market-linked-income-stream-determination-2017","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":95759,"registerId":"commonwealth-F2017L00060-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Social Security (Exempt Lump Sum - Market-linked Income Stream) Determination 2017","content":"![](image.001.png)\n\nSocial Security (Exempt Lump Sum \\- Market-linked Income Stream) Determination 2017\n\nI, Anita Davis, delegate of the Secretary of the Department of Social Services, make the following determination.\n\nDated 18 January 2017\n\n………………………………………………………………….\n\nANITA DAVIS\n\nActing Branch Manager\n\nInternational and Means Test Policy Branch\n\nDepartment of Social Services\n\n \n\n1 Name\n\nThis instrument is the Social Security (Exempt Lump Sum - Market‑linked Income Stream) Determination 2017\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```html\n

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.

24 January 2017

\n```\n\nNote: This table relates only to the provisions of this instrument as originally made.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\nThis instrument is made under paragraph 8(11)(d) of the Social Security Act 1991.\n\n4 Revocation\n\nThe following instrument is revoked:\n\nSocial Security Exempt Lump Sum Determination No. 7 of 2004 (FACS)\n\n5 Definitions\n\nIn this instrument\n\nAct means the Social Security Act 1991.\n\nmarket-linked income stream means an asset-test exempt income stream which meets the requirements of subsection 9BA(1) of the Social Security Act 1991.\n\nsocial security payment has the same meaning as in the Social Security Act 1991.\n\n6 Exempt Lump Sums\n\nIf:\n\n(a) a person is a beneficiary of a market-linked income stream; and\n\n(b) after the payment of the final year’s annual payment from that market-linked income stream there is a residual balance in the relevant account; and\n\n(c) clause 3 of Schedule 6 of the Superannuation Industry (Supervision) Regulations 1994 requires that the residual balance in the account of the market-linked income stream is to be paid to the beneficiary within 28 days of the end of the market-linked income stream’s term; and\n\n(d) the person is in receipt of a social security payment;\n\nthen any amount paid by the market-linked income stream to the person, in accordance with paragraph (c) above, is an exempt lump sum for the purposes of paragraph 8(11)(d) of the Act.","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This is a straightforward, narrow determination that does exactly what its title suggests—specifies that residual balances from market-linked income streams are exempt lump sums. It replaces a 2004 determination (No. 7) with updated terminology but serves the same purpose. The scope remains tightly focused on this specific technical issue in social security means testing."},"complexity_factors":["Very short instrument (6 sections, approximately 1 page)","Only 3 defined terms, all referencing existing definitions in primary legislation","Single operative provision (section 6) with straightforward conditional logic (4 cumulative conditions)","No cross-references beyond the parent Act and Superannuation Regulations","No exceptions, exemptions, or nested conditions","Clear causal structure: if conditions (a)-(d) are met, then specified result follows"],"plain_english_summary":"This determination treats leftover balances from market‑linked income stream products—paid within 28 days after the product’s fixed term ends—as not countable income for Centrelink when assessing pension or benefit entitlement. \n\nIt protects social security recipients and their beneficiaries from a one‑off lump sum at term end reducing or cancelling their payments, recognizing the funds as remaining principal rather than new income."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"Clause 4 expressly revokes the earlier Social Security Exempt Lump Sum Determination No.7 of 2004 and clause 6 replaces the rule with a targeted exemption: residual payments from market‑linked income streams are exempt only where the stream meets s9BA(1) and the residual is paid within 28 days under SIS Regs cl.3. The instrument therefore narrows and recasts the exemption into a specific, conditional rule tied to those statutory definitions and timing requirements."},"complexity_factors":["Single substantive rule located in clause 6: four conjunctive conditions must all be met (beneficiary status; residual balance after final annual payment; payment timing per SIS Regs cl.3; recipient receiving a social security payment).","Cross‑references to external provisions increase reading complexity: subsection 9BA(1) of the Social Security Act (definition of market‑linked income stream) and clause 3 of Schedule 6 of the Superannuation Industry (Supervision) Regulations 1994 (payment timing) (see clauses 5 and 6(c)).","Administrative origin and authority: made by a Department delegate under paragraph 8(11)(d) of the Social Security Act (clause 3), which concentrates decision‑making in delegated administrative instruments.","Compliance/timing dependency: exemption hinges on the residual being paid within a 28‑day window prescribed by the SIS Regulations (clause 6(c)), creating a clear operational deadline for superannuation trustees/providers.","Revocation of prior instrument (clause 4) may require administrators and advisers to check transitional arrangements or prior guidance for clients, introducing implementation risk.","Legal precision required over terms like “residual balance”, “final year’s annual payment” and beneficiary status — uncertainties here can create disputes about entitlement and means‑test treatment (implicit across clauses 5–6)."],"plain_english_summary":"This determination says that when a person on a social security payment receives a residual payment from a ‘market‑linked income stream’, that payment is treated as an exempt lump sum — but only if the income stream meets subsection 9BA(1) of the Social Security Act and the residual is paid within 28 days as required by clause 3 of Schedule 6 of the SIS Regulations. Practically, superannuation providers make the residual payment, and the Department’s determination means those specific residuals are excluded from the social security asset test."}},"importantCases":[],"_links":{"self":"/api/acts/social-security-exempt-lump-sum-market-linked-income-stream-determination-2017","history":"/api/acts/social-security-exempt-lump-sum-market-linked-income-stream-determination-2017/history","analysis":"/api/acts/social-security-exempt-lump-sum-market-linked-income-stream-determination-2017/analysis","conflicts":"/api/acts/social-security-exempt-lump-sum-market-linked-income-stream-determination-2017/conflicts","importantCases":"/api/acts/social-security-exempt-lump-sum-market-linked-income-stream-determination-2017/important-cases","documents":"/api/acts/social-security-exempt-lump-sum-market-linked-income-stream-determination-2017/documents"}}