Commonwealth legislation

Veterans' Entitlements Act 1986 - Determination under subsection 46L(1) No. 11/2006

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

2/10 complexity

This decision exempts seven specific religious and charitable investment funds from the "deeming" rules used to calculate veterans’ pensions. Money held in those named church and charitable funds will not be treated as financial assets for pension means-testing, so veterans with investments in them won’t have assumed income counted against their pension. The exemption applies from the varying dates noted in the determination.

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Veterans' Entitlements Act 1986 - Determination under subsection 46L(1) No. 11/2006

ATTACHMENT E

VETERANS’ ENTITLEMENTS ACT 1986

DETERMINATION UNDER SUBSECTION 46L(1)

No. 11/2006

I, BRUCE BILLSON, Minister for Veterans’ Affairs, determine, under subsection 46L(1) of the Veterans’ Entitlements Act 1986 (the Act), that the financial investments made to the fund or account named in column A, sponsored by the organisation named in column B, are not to be regarded as financial assets for the purposes of sections 46D or 46E of the Act from the date specified in column C.

AFUND or ACCOUNT	BSPONSOR	CDATE
Interest Free LoansChurch Land Purchase Fund	The Stables ChristianCare Centre Incorporated	08/12/2004
Cash Management Account of the Redlands Christian Spiritual Centre	Redlands ChristianSpiritual Centre	24/12/2004
Toronto Baptist ChurchBuilding Fund	Toronto Baptist Church	09/02/2005
Holy Spirit ProvincePatrimony Fund	Trustees of The Christian Brothers (the Brothers)	18/01/2005
Collinsville Aged AssistanceAssociation IncDeeming Exemption Fund	Collinsville Aged Assistance Association Inc	21/06/2005
The Religious InstitutePatrimony Fund	The Presentation Sisters (the Religious Institute)	06/09/2005
The Religious InstitutePatrimony/Trust Fund	The Brigidine Sisters(the Religious Institute)	05/09/2005

Dated this 28th day of March 2006

BRUCE BILLSON

Minister for Veterans’ Affairs

Source text

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

1 Veterans' Entitlements Act 1986 - Determination under subsection 46L(1) No. 11/2006