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Veterans' Entitlements (Retention of Exemption for Asset-test Exempt Income Streams) Principles 2022
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Turn the raw legal text into a practical explanation grounded in Veterans' Entitlements (Retention of Exemption for Asset-test Exempt Income Streams) Principles 2022.
These Principles cover an income stream if: (a) it is covered by section 5JBA of the Act or would have been covered by that section if subparagraph 5JBA (1) (a) (i) of the Act did not apply; and (b) it results from the commutation and rollover of all the assets supporting a partially asset-test exempt income stream (the original income stream); and (c) the original income stream was covered by section 5JBA of the Act or would have been covered by that section if subparagraph 5JBA(1)(a)(i) did not apply; and (d) the original income stream: (i) was purchased on or after 20 September 2004 and before 20 September 2007; or (ii) was covered by the 2007 Principles during the period starting on 20 September 2007 and ending at the end of 24 November 2011; or (iii) until the commencement of these Principles, was covered by the 2011 Principles; or (iv) was covered by these Principles.