Commonwealth legislation

Social Security (Exempt Lump Sum – Youpla Support Program) Determination 2024

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Commonwealth

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legislative instrument

Plain English Summary

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This Determination says that payments made under the Youpla Support Program — payments to eligible people for funeral insurance policies affected by the collapse of the Youpla Group — are to be treated as an “exempt lump sum” for the purposes of paragraph 8(11)(d) of the Social Security Act 1991. It was made by a delegate of the Secretary (signed by Gillian Beer) and mechanically changes how those program payments are counted under the Act’s lump-sum rules.

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Current sections

Direct links to the current provisions in Social Security (Exempt Lump Sum – Youpla Support Program) Determination 2024.

Social Security (Exempt Lump Sum – Youpla Support Program) Determination 2024

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Commonwealth Coat of Arms of Australia

Social Security (Exempt Lump Sum – Youpla Support Program) Determination 2024

I, Gillian Beer, delegate of the Secretary of the Department of Social Services, make the following Determination.

Dated 20 June 2024

Gillian Beer

Branch Manager, Payment Structures and Seniors Branch

Delegate of the Secretary of the Department of Social Services

Contents

1 Name

2 Commencement

3 Authority

4 Definitions

5 Exempt Lump Sum ............................................1

1 Name

This instrument is the Social Security (Exempt Lump Sum – Youpla Support Program) Determination 2024.

2 Commencement

This instrument commences on 1 July 2024.

3 Authority

This instrument is made under paragraph 8(11)(d) of the Social Security Act 1991.

4 Definitions

In this instrument:

Act means the Social Security Act 1991.

Youpla Support Program means the program under which payments are made to eligible persons in respect of eligible funeral insurance policies issued by a company in the group of companies known as the Youpla Group, in circumstances where the policy has been affected by the collapse and liquidation of those companies.

5 Exempt Lump Sum

For the purposes of paragraph 8(11)(d) of the Act, the amount of a payment made under the Youpla Support Program is an exempt lump sum.

Source text

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

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Social Security (Exempt Lump Sum – Youpla Support Program) Determination 2024

I, Gillian Beer, delegate of the Secretary of the Department of Social Services, make the following Determination.

Dated 20 June 2024

Gillian Beer

Branch Manager, Payment Structures and Seniors Branch

Delegate of the Secretary of the Department of Social Services

Contents

1 Name

2 Commencement

3 Authority

4 Definitions

5 Exempt Lump Sum ............................................1

1 Name

This instrument is the Social Security (Exempt Lump Sum – Youpla Support Program) Determination 2024.

2 Commencement

This instrument commences on 1 July 2024.

3 Authority

This instrument is made under paragraph 8(11)(d) of the Social Security Act 1991.

4 Definitions

In this instrument:

Act means the Social Security Act 1991.

5 Exempt Lump Sum

For the purposes of paragraph 8(11)(d) of the Act, the amount of a payment made under the Youpla Support Program is an exempt lump sum.

Read the source document