Commonwealth legislation

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

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

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This determination sets the deeming rates Centrelink uses to calculate assumed income from financial assets for social security income tests. It applies a 3% rate to assets up to the statutory threshold and 4% above it, affecting anyone on payments who holds financial investments. It replaced the 2008 rates and commenced 26 January 2009.

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Current sections

Direct links to the current provisions in Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2009 (No. 1).

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

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

I, TANYA PLIBERSEK, Minister for Housing, make this Determination under section 1082 of the Social Security Act 1991.

Dated 16 January 2009.

Tanya Plibersek

Minister for Housing

Name of Determination

This Determination is the Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2009 (No. 1).

Commencement

This Determination commences on 26 January 2009.

Interpretation

In this Determination:

Act means the Social Security Act 1991.

Revocation of Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2008

The Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2008 (No.2) is revoked.

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 3 per cent.

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 4 per cent.

Source text

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

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

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

I, TANYA PLIBERSEK, Minister for Housing, make this Determination under section 1082 of the Social Security Act 1991.

Dated 16 January 2009.

Tanya Plibersek

Minister for Housing

Name of Determination

This Determination is the Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2009 (No. 1).

Commencement

This Determination commences on 26 January 2009.

Interpretation

In this Determination:

Act means the Social Security Act 1991.

Revocation of Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2008

The Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2008 (No.2) is revoked.

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 3 per cent.

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 4 per cent.