Summary
Amends the
Social Security Act 1991
to: remove the ‘grandfathering’ transitional arrangement from the parenting payment from 1 January 2013; reduce the length of the liquid assets waiting period by doubling the maximum reserve threshold for liquid assets to $5000 for singles without dependants or $10 000 for others from 1 July 2013; and clarify the definition of ‘termination payment’ for the purposes of the income maintenance period to ensure it includes any payments connected with the termination of a person’s employment.