Commonwealth legislation

Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 2)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This instrument sets Centrelink's deeming rates for financial investments used to assess income for pensions and benefits: 2% on assets up to the threshold and 3% on amounts above it.

It affects Age Pension, Disability Support Pension, JobSeeker and other income‑support recipients with bank accounts, term deposits, shares, etc., and can raise or lower payments compared with actual interest or dividends.

JSON API

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 2).

Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 2)

View image in the official source

Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 2)

I, JULIA EILEEN GILLARD, Minister for Education, Minister for Employment and Workplace Relations, make this determination under section 1082 of the Social Security Act 1991.

Dated 27 February 2009

JULIA EILEEN GILLARD

Minister for Education

Minister for Employment and Workplace Relations

1 Name of determination

This determination is the Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 2).

2 Commencement

This determination commences on 20 March 2009.

3 Revocation

The Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 1) is revoked.

4 Definition

In this determination:

Act means the Social Security Act 1991.

5 Below threshold rate

For subsection 1082 (1) of the Act, the below threshold rate for Division 1B of Part 3.10 of the Act is 2 per cent.

6 Above threshold rate

For subsection 1082 (2) of the Act, the above threshold rate for Division 1B of Part 3.10 of the Act is 3 per cent.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 2)

Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 2)

I, JULIA EILEEN GILLARD, Minister for Education, Minister for Employment and Workplace Relations, make this determination under section 1082 of the Social Security Act 1991.

Dated 27 February 2009

JULIA EILEEN GILLARD

Minister for Education

Minister for Employment and Workplace Relations

1 Name of determination

This determination is the Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 2).

2 Commencement

This determination commences on 20 March 2009.

3 Revocation

The Social Security (Deeming Threshold Rates) (DEEWR) Determination 2009 (No. 1) is revoked.

4 Definition

In this determination:

Act means the Social Security Act 1991.

5 Below threshold rate

For subsection 1082 (1) of the Act, the below threshold rate for Division 1B of Part 3.10 of the Act is 2 per cent.

6 Above threshold rate

For subsection 1082 (2) of the Act, the above threshold rate for Division 1B of Part 3.10 of the Act is 3 per cent.