4Definitions

4 Definitions

Note: A number of expressions used in this instrument are defined in the Act, including the following:

(a) asset-test exempt income stream;
(b) commencement day;
(c) defined benefit income stream;
(d) family law affected income stream;
(e) income stream;
(f) Secretary.

In this instrument:

2005 Principles means the Social Security (Partially Asset‑test Exempt Income Stream — Exemption) (FaHCSIA) Principles 2005.

2007 Determination means the Social Security (Guidelines for Determining whether Income Stream is Asset-test Exempt) (FaCSIA) Determination 2007 (No. 1).

2011 Determination means the Social Security (Guidelines for determining whether income stream is asset-test exempt) (DSS) Determination 2011.

2022 Determination means the Social Security (Guidelines for Determining Whether Income Stream is Asset-test Exempt) Determination 2022.

Act means the Social Security Act 1991.

benefit fund has the meaning given by subsection 16B(1) of the Life Insurance Act 1995.

defined benefit pension has the meaning given by regulation 9.04E of the Superannuation Industry (Supervision) Regulations 1994.

dependant means a dependant mentioned in subregulation 6.21(2A) of the Superannuation Industry (Supervision) Regulations 1994.

immediate annuity means an annuity that is presently payable.

life company has the meaning given in the Dictionary to the Life Insurance Act 1995.

lifetime income stream, in relation to a person, means an income stream in which payments are made, at least annually, throughout the life of the person and, if there is a reversionary beneficiary, throughout the life of the reversionary beneficiary.

private sector fund has the same meaning as in subsection 10(1) of the Superannuation Industry (Supervision) Act 1993.

public sector fund has the same meaning as in subsection 10(1) of the Superannuation Industry (Supervision) Act 1993.

public sector superannuation scheme has the same meaning as in subsection 10(1) of the Superannuation Industry (Supervision) Act 1993.