{"id":"F2009B00029","name":"Social Security (Loan Fringe Benefits) (Market Rate of Interest) Determination No. 1","slug":"social-security-loan-fringe-benefits-market-rate-of-interest-determination-no-1","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":121226,"registerId":"commonwealth-F2009B00029-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Social Security (Loan Fringe Benefits) (Market Rate of Interest) Determination No. 1","content":"Commonwealth of Australia\n\nSocial Security Act 1991\n\nSocial Security (Loan Fringe Benefits) (Market Rate of Interest) Determination No. 1\n\nI, PETER JEREMY BALDWIN, Minister for Social Security, make the following Determination under subsection 1157Q (4A) of the Social Security Act 1991.\n\nDated 16 October 1995.\n\nPeter Baldwin\n\nMinister for Social Security\n\nCitation\n\n1. This Determination may be cited as the Social Security (Loan Fringe Benefits) (Market Rate of Interest) Determination No. 1.\n\n\\[NOTE: This Determination commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.\\]\n\nInterpretation\n\n2. In this Determination:\n\n“Act” means the Social Security Act 1991.\n\nLoan fringe benefits—market rate of interest\n\n3. For the purposes of subsection 1157Q (4A) of the Act, the following banks are specified:\n\n(a) Australia and New Zealand Banking Group Limited;\n\n(b) Commonwealth Bank of Australia;\n\n(c) National Australia Bank Limited;\n\n(d) Westpac Banking Corporation.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2090},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This is the original determination establishing the baseline list of reference banks. The scope is strictly limited to specifying which banks' interest rates constitute the 'market rate' for loan fringe benefit calculations under the Social Security Act, which aligns exactly with the stated purpose of subsection 1157Q(4A)."},"complexity_factors":["Only 1 defined term ('Act') in the interpretation section","No conditional logic, exceptions, or internal cross-references","Straightforward specification of 4 named banking corporations in a single list"],"plain_english_summary":"A rule that sets which banks’ standard interest rates Centrelink uses to value employer-provided low‑interest or interest‑free loans for social security assessments. \n\nIt applies to people on payments (pension, JobSeeker, etc.) who receive a loan fringe benefit, and names ANZ, Commonwealth Bank, NAB and Westpac as the benchmark banks — which affects how much their payments may be reduced."}},"importantCases":[],"_links":{"self":"/api/acts/social-security-loan-fringe-benefits-market-rate-of-interest-determination-no-1","history":"/api/acts/social-security-loan-fringe-benefits-market-rate-of-interest-determination-no-1/history","analysis":"/api/acts/social-security-loan-fringe-benefits-market-rate-of-interest-determination-no-1/analysis","conflicts":"/api/acts/social-security-loan-fringe-benefits-market-rate-of-interest-determination-no-1/conflicts","importantCases":"/api/acts/social-security-loan-fringe-benefits-market-rate-of-interest-determination-no-1/important-cases","documents":"/api/acts/social-security-loan-fringe-benefits-market-rate-of-interest-determination-no-1/documents"}}