Family and Community Services and Veterans' Affairs Legislation Amendment (Income Streams) Bill 2004

Type
Government
Portfolio
Family and Community Services 
Originating house
House of Representatives 
Status
Act 
Parliament no
40
Summary
Amends the
Social Security Act 1991
  and
Veterans’ Entitlements Act 1986
  to: provide an assets test exemption for market-linked income streams from 20 September 2004; reduce to 50 per cent the available assets test exemption for certain non-commutable income streams purchased after 20 September 2004; align the characteristics of life expectancy income streams with those of market-linked income streams; and extend the guarantee period for assets test exempt lifetime income streams within which such income streams can be commuted if the primary beneficiary dies. 

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Progress

House of Representatives
26 May 2004Introduced and read a first time
26 May 2004Second reading moved
03 Jun 2004Second reading agreed to
03 Jun 2004Third reading agreed to
Senate
15 Jun 2004Introduced and read a first time
15 Jun 2004Second reading moved
23 Jun 2004Second reading debate
24 Jun 2004Second reading agreed to
24 Jun 2004Third reading agreed to


13 Jul 2004Assent

Act no.: 116

Year: 2004

Documents and transcripts

Text of bill

Word Format PDF Format

Explanatory memoranda

Word Format PDF Format

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest PDF Format

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Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changed to the bill. For details about the outcome of proposed amendments please refer to either theĀ Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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