{"id":"F2020L00264","name":"Social Security (Exempt Lump Sums – Financial Product Rebate Payments – Ending Conflicted Remuneration) Determination 2020","slug":"social-security-exempt-lump-sums-financial-product-rebate-payments-ending-conflicted-remuneration-de","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":100809,"registerId":"commonwealth-F2020L00264-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Name","content":"#### 1 Name\n\n This instrument is the Social Security (Exempt Lump Sums – Financial Product Rebate Payments – Ending Conflicted Remuneration) Determination 2020.","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 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.

\n```\n\n> Note: This table relates only to the provisions of this instrument as originally made.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.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Authority","content":"#### 3 Authority\n\n This instrument is made under paragraph 8(11)(d) of the Act.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Definitions","content":"#### 4 Definitions\n\n In this instrument:\n Act means the Social Security Act 1991.\n conflicted remuneration has the meaning given in Division 4 of Part 7.7A of the Corporations Act 2001.\n exempt lump sum has the meaning given in subsection 8(11) of the Act.\n rebate payment means an amount received by a person that is:\n a) not a periodic payment; and\n b) made as a result of the removal of grandfathering arrangements for conflicted remuneration and the legislative amendments to be made by the Treasury Laws Amendment (Ending Grandfathered Conflicted Remuneration) Act 2019; and\n c) paid pursuant to section 963P of the Corporations Act 2001 (on or after 1 January 2021) or in anticipation of the commencement of section 963P of the Corporations Act 2001 (before 1 January 2021).\n 5 Exempt lump sum\n For the purposes of paragraph 8(11)(d) of the Act, a rebate payment is an exempt lump sum.","sortOrder":3}],"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"},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"The instrument exercises the existing power in paragraph 8(11)(d) of the Social Security Act to declare a class of lump sums exempt; it does not amend the Act or expand that power. It specifies criteria for which rebate payments (as defined) qualify as exempt lump sums, clarifying application rather than changing statutory scope (see definitions and section 5)."},"complexity_factors":["Cross-references to multiple statutes: Social Security Act 1991 (para 8(11)(d)) and Corporations Act 2001 (Division 4 of Part 7.7A and s963P).","Narrow, technical definition of 'rebate payment' that depends on legislative changes (Treasury Laws Amendment (Ending Grandfathered Conflicted Remuneration) Act 2019).","Temporal clause: covers payments made on or after 1 January 2021 and payments made in anticipation before that date.","Legal effect is limited but consequential: changes means-test treatment without amending primary legislation.","Potential administrative interpretation issues for Centrelink when identifying qualifying payments and their timing.","Single-purpose instrument with concise text, reducing drafting complexity but increasing reliance on external statutory definitions."],"plain_english_summary":"This determination declares certain one-off “rebate payments” arising from the end of grandfathered conflicted remuneration to be “exempt lump sums” under the Social Security Act 1991. It defines which non-periodic payments tied to the Corporations Act (section 963P) qualify, so those receipts are excluded from social-security lump-sum tests and therefore change how affected recipients are treated in Centrelink means-testing."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The legislation performs exactly the narrow, technical function described in its title: exempting specific rebate payments from income testing. There is no scope creep or expansion beyond this original purpose."},"complexity_factors":["Only 5 short sections total","4 defined terms, all referencing external legislation (Social Security Act 1991 and Corporations Act 2001)","Single operative provision (section 5) with no conditional logic or exceptions","No cross-references beyond the defined terms","Straightforward declaratory structure: 'X is an exempt lump sum'"],"plain_english_summary":"This law makes one-off rebate payments that arise when old \"conflicted remuneration\" arrangements end into exempt lump sums for Centrelink, so they are ignored when assessing income. \n\nIt protects people on social security (Age Pension, DSP, JobSeeker, etc.) from losing or having benefits reduced because they received a rebate tied to the reform of adviser commissions."}},"importantCases":[],"_links":{"self":"/api/acts/social-security-exempt-lump-sums-financial-product-rebate-payments-ending-conflicted-remuneration-de","history":"/api/acts/social-security-exempt-lump-sums-financial-product-rebate-payments-ending-conflicted-remuneration-de/history","analysis":"/api/acts/social-security-exempt-lump-sums-financial-product-rebate-payments-ending-conflicted-remuneration-de/analysis","conflicts":"/api/acts/social-security-exempt-lump-sums-financial-product-rebate-payments-ending-conflicted-remuneration-de/conflicts","importantCases":"/api/acts/social-security-exempt-lump-sums-financial-product-rebate-payments-ending-conflicted-remuneration-de/important-cases","documents":"/api/acts/social-security-exempt-lump-sums-financial-product-rebate-payments-ending-conflicted-remuneration-de/documents"}}