Social Security and Veterans' Entitlements Legislation Amendment (Disposal of Assets—Integrity of Means Testing) Bill 2002

Type
Government
Portfolio
Family and Community Services
Originating house
House of Representatives
Status
Act
Parliament no
40

Track (What's this?)

Permalink

Summary

Amends the Social Security Act 1991 and Veterans’ Entitlements Act 1986 in relation to gifting of assets by introducing a free area of $25 000, over and above already deprived assets, that will apply over a rolling 5-year period and will operate concurrently with the current $10 000 per year free area. Gifts in excess of this $25 000 free area within the 5 years will be assessed as a deprived asset for 5 years. Also changes the applicable period from a pension year to a financial year. The new rules will apply from 1 July 2002.

Progress

House of Representatives
Introduced and read a first time 14 Mar 2002
Second reading moved 14 Mar 2002
Second reading agreed to 19 Jun 2002
Third reading agreed to 19 Jun 2002
Senate
Introduced and read a first time 19 Jun 2002
Second reading moved 19 Jun 2002
Second reading agreed to 27 Jun 2002
Committee of the Whole debate
  • Amendment details: 9 Australian Democrats agreed to
27 Jun 2002
Third reading agreed to 27 Jun 2002
House of Representatives
Consideration of Senate message
  • Details: House agreed to Senate amendments
27 Jun 2002
Assent
  • Act no.: 54
  • Year: 2002
29 Jun 2002

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

Notes

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 changes to the bill. For details about the outcome of proposed amendments please refer to either the 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.

We acknowledge the traditional owners and custodians of country throughout Australia and acknowledge their continuing connection to land, waters and community. We pay our respects to the people, the cultures and the elders past, present and emerging.

Aboriginal and Torres Strait Islander people are advised that this website may contain images and voices of deceased people.