Veterans' Entitlements Act 1986

52A Value of asset tested income streams that are not defined benefit income streams, asset tested income streams (lifetime) or family law affected income streams

52B Value of asset tested income streams that are defined benefit income streams

52BAA Value of asset tested income streams (lifetime) that are managed investments

52BAB Value of asset tested income streams (lifetime) that are not managed investments

52BA Value of asset tested FLA income streams

52BB Value of partially asset test exempt income streams

52BC Value of superannuation reserves for superannuation funds of 4 members or less

52C Effect of charge or encumbrance on value of assets

52CA Effect of certain liabilities on value of assets used in primary production

52CB Value of life policy

52D Loans

Subdivision B—Dispositions of assets (general provisions)

52E Disposal of assets

52F Amount of disposition

52FAAA Application of asset deprivation rules to cease in respect of certain assets

Subdivision BA—Dispositions of assets before 1 July 2002

52FAA Application

52FA Disposal of assets in pre pension years—not a member of a couple

52G Disposal of assets in pension years—not a member of a couple

52GA Disposal of assets in pre pension years—members of couples

52H Disposal of assets in pension years—members of couples

52J Dispositions more than 5 years old to be disregarded

Subdivision BB—Dispositions of assets on or after 1 July 2002

52JA Disposition of assets in tax year—individuals

52JB Dispositions of assets in 5 year period—individuals

52JC Disposition of assets in tax year—members of couples

52JD Disposition of assets in 5 year period—members of couples

52JE Certain dispositions to be disregarded

Subdivision C—Provisions relating to special residences and special residents

52KA Application of Subdivision to granny flat residents

52L Basis for different treatment

52M Entry contribution

52N Extra allowable amount

52P Renegotiation of retirement village agreement

52Q Residents who are not members of a couple

52R Members of couples

52S Members of illness separated couple (both in special residences)

52T Members of illness separated couple (partner not in special residence and partner property owner)

52U Members of illness separated couple (partner not in special residence and partner not property owner)

52V Members of ordinary couple with different principal homes (both in special residences)

52W Members of ordinary couple with different principal homes (partner not in special residence and partner property owner)

52X Members of ordinary couple with different principal homes (partner not in special residence and partner not property owner)

Subdivision D—Financial hardship

52Y Access to financial hardship rules

52Z Application of financial hardship rules

Subdivision E—Pension loans scheme

52ZAAA Pension loans scheme definitions

52ZA Eligibility for participation in pension loans scheme

52ZB Effect of participation in pension loans scheme—pension rate

52ZBA Pension loans scheme advance payment

52ZC Effect of participation in pension loans scheme—creation of debt

52ZCA Effect of participation in pension loans scheme—maximum loan available

52ZD Need for a request to participate

52ZE Need for a request to later nominate or change nominated amount or rate of pension

52ZEAA Need for a request for a pension loans scheme advance payment

52ZEA Non receipt of service pension or income support supplement

52ZF Existence of debt results in charge over real assets

52ZG Debt not to be recovered until after death

52ZH Enforcement of charge

52ZJ Person ceases to participate in pension loans scheme if debt exceeds maximum loan available

52ZJA Commission may cease person’s participation in pension loans scheme

52ZK Person withdraws from pension loans scheme

52ZKA Repayment or recovery of debt after pension loans scheme ceases to operate

52ZL Registration of charge

52ZM Manner of enforcement of charge

52ZMAA No negative equity guarantee

Subdivision F—Commutation of asset test exempt income stream

52ZMA Debt resulting from commutation of asset test exempt income stream contrary to subsection 5JA(2), 5JB(2) or 5JBA(2)

Division 11A—Means test treatment of private companies and private trusts

Subdivision A—Introduction

52ZN Simplified outline

52ZO Definitions

52ZP Relatives

52ZQ Associates

52ZR When a company is sufficiently influenced by an entity

52ZS Majority voting interest in a company

52ZT Entitled to acquire

52ZU Transfer of property or services

52ZV Constructive transfers of property or services to an entity

52ZW Active involvement with a primary production enterprise

52ZX Power to veto decisions of a trustee

52ZY Extra territorial operation

52ZZ Application to things happening before commencement

Subdivision B—Designated private companies

52ZZA Designated private companies

Subdivision C—Designated private trusts

52ZZB Designated private trusts

Subdivision D—Controlled private companies

52ZZC Controlled private companies

52ZZD Direct voting interest in a company

52ZZE Voting power

52ZZF Direct control interest in a company

52ZZG Interest in a share

Subdivision E—Controlled private trusts

52ZZH Controlled private trusts

52ZZI Interest in a trust

Subdivision F—Attributable stakeholders and attribution percentages

52ZZJ Attributable stakeholder, asset attribution percentage and income attribution percentage

Subdivision G—Attribution of income of controlled private companies and controlled private trusts

52ZZK Attribution of income

52ZZL No double counting of attributed income

52ZZM Ordinary income of a company or trust

52ZZN Ordinary income from a business—treatment of trading stock

52ZZO Permissible reductions of business and investment income

52ZZP Derivation periods

52ZZQ Attribution periods

Subdivision H—Attribution of assets of controlled private companies and controlled private trusts

52ZZR Attribution of assets

52ZZS When attributed asset is unrealisable

52ZZT Effect of charge or encumbrance on value of assets

52ZZU Effect of unsecured loan on value of assets

52ZZV Value of company’s or trust’s assets etc.

Subdivision I—Modification of asset deprivation rules

52ZZW Individual disposes of asset to company or trust

52ZZX Disposal of asset by company or trust

52ZZY Individual ceases to be an attributable stakeholder of a company or trust

52ZZZ Individual disposes of asset to company or trust before 1 January 2002—individual is attributable stakeholder

52ZZZA Individual disposes of asset to company or trust before 1 January 2002—individual’s spouse is attributable stakeholder

Subdivision J—Modification of income deprivation rules

52ZZZB Individual disposes of ordinary income to company or trust

52ZZZC Disposal of income by company or trust

52ZZZD Individual disposes of income to company or trust before 1 January 2002—individual is attributable stakeholder

52ZZZE Individual disposes of income to company or trust before 1 January 2002—individual’s spouse is attributable stakeholder

Subdivision K—Concessional primary production trusts

52ZZZF Concessional primary production trusts

52ZZZG Individual ceases to be an attributable stakeholder of a trust—receipt of remuneration or other benefits from trust during asset deprivation period

52ZZZH Net value of asset

52ZZZI Value of entity’s assets

52ZZZJ When asset is controlled by an individual

52ZZZK Adjusted net value of asset

52ZZZL Adjusted net primary production income

52ZZZM Net income of a primary production enterprise

52ZZZN Net income from a primary production enterprise—treatment of trading stock

52ZZZO Permissible reductions of income from carrying on a primary production enterprise

Subdivision L—Anti avoidance

52ZZZP Anti avoidance

Subdivision M—Decision making principles

52ZZZQ Decision making principles

Subdivision N—Information management

52ZZZR Transitional period

52ZZZS Information gathering powers

52ZZZT Commission may obtain tax information

52ZZZU Disclosure of tax information

52ZZZV Disclosure of tax file number information

Division 11B—Private financial provision for certain people with disabilities

Subdivision A—Special disability trusts

52ZZZW What is a special disability trust?

52ZZZWA Beneficiary requirements

52ZZZWB Trust purpose requirements

52ZZZWC Trust deed requirements

52ZZZWD Trustee requirements

52ZZZWE Trust property requirements

52ZZZWEA Trust expenditure requirements

52ZZZWF Reporting requirements

52ZZZWG Audit requirements

52ZZZWH Waiver of contravention of this Division

Subdivision B—Income of special disability trusts

52ZZZWI Attribution of income

52ZZZWJ Income amounts from special disability trusts

Subdivision C—Assets of special disability trusts

52ZZZWK Attribution of assets

Subdivision D—Transfers to special disability trusts

52ZZZWL Effect of certain transfers to special disability trusts

52ZZZWM The effect of exceeding the $500,000 limit

52ZZZWN Transfers by the immediate family members prior to reaching pension age etc.

52ZZZWO Transfers by principal beneficiaries or partners

52ZZZWP Cessation of special disability trusts

52ZZZWQ Effect of this Subdivision

Division 12—Service pensioner and income support supplement recipient benefits

Subdivision A—Introduction

53 Fringe benefits and treatment at Departmental expense for certain service pensioners

Subdivision B—Fringe benefits

53A Fringe benefits

53B Commission must determine continued fringe benefits eligibility circumstances

Subdivision C—Treatment at Departmental expense

53D Eligibility for treatment at Departmental expense

53E Veterans to satisfy certain conditions

Division 12A—Payments after bereavement

Subdivision A—Bereavement period

53H Definition

Subdivision B—Death of pensioner’s partner (where partner was receiving a pension or a social security pension)

53J Application

53K What happens if pensioner’s reassessed rate equals or exceeds combined pensioner couple rate

53L What happens if pensioner’s reassessed rate is less than combined pensioner couple rate

53M Determination of amount of pension and social security pension

53N Transfer to another pension

53NAA Matters affecting bereavement payments under this Subdivision

53NA No liability of financial institution for certain payments to pensioner

Subdivision C—Death of pensioner

53P Application

53Q Payment of one instalment

Subdivision D—Death of dependent child

53R Application

53S When reassessed pension rate in respect of pensioner comes into effect

53T Bereavement payment

Division 13—Recipient obligations

54 Secretary may require notification of an event or change of circumstances

54A Secretary may require recipient to give information relevant to payment of service pension, income support supplement or veteran payment

54AA Secretary may require recipient to give information, produce documents or appear before an officer

54B Document served with a section 54 notice

54BA Secretary may require person or person’s partner to take action to obtain a comparable foreign pension

54C Interpretation

Division 14—Pensioners in certain institutions

55 Service pension, income support supplement or veteran payment may be suspended or forfeited when person in gaol or in psychiatric confinement following criminal charge

55A Instalments may be redirected to partner or child

Division 15—Variation and termination

56 Automatic termination or rate reduction—recipient complying with section 54 notification obligations

56A Automatic termination—recipient not complying with section 54 notification obligations

56B Automatic rate reduction—recipient not complying with section 54 notification obligations

56C Rate increase determination

56D Rate reduction determination

56DA No rate increase or reduction for small amounts

56E Cancellation or suspension determination—general

56EA Cancellation or suspension determination for failure to comply with section 54A notice

56EB Cancellation or suspension for failure to take action to obtain a comparable foreign pension

56EC Cancellation determination where service pension, income support supplement or veteran payment not payable

56ED Suspension instead of automatic termination under section 56 or 56A

56EE Suspension instead of automatic termination under section 56 or 56A—partners

56F Resumption of a payment after suspension

56G Date of effect of favourable determination

56GA Date of effect of determination under section 56C—dependent child

56H Date of effect of adverse determination

56J Payment may be cancelled at recipient’s request

56K Payment may be suspended if instalments not drawn

56L Commission may end suspension

56M Effect of cancellation or suspension

56N Changes to payments by computer

Division 16—Review of decisions

57 Persons who may seek review of certain decisions

57A Application for review

57B Commission’s powers where request for review

57C Date of effect of certain review decisions

57D Commission must make written record of review decision and reasons

57E Person who requested review to be notified of decision

57F Powers of Commission to gather evidence

57G Withdrawal of request for review

57H Commission may reimburse certain expenses

Division 17—Administration of payments

Subdivision A—General administration of payments

58 Application of Subdivision

58A Payment by instalments

58C Manner of payment

58D Agents

58E Pension payday falling on public holiday etc.

58F Payment into bank account etc.

58J Payments to Commissioner of Taxation or Child Support Registrar

Subdivision B—Payments outside Australia

58K Age, invalidity and partner service pensions, income support supplement and veteran payment generally portable

58L Manner of payment outside Australia

58M No portability if claim based on short term residence

58N Transfer to portable pension

Division 18—Indexation

Subdivision A—Preliminary

59 Analysis of Division

59A Indexed and adjusted amounts

Subdivision B—CPI indexation

59B CPI Indexation Table

59C Indexation of amounts

59D Indexation factor

59E Rounding off indexed amounts

59EAA Indexation using Pensioner and Beneficiary Living Cost Index

59EAB Living cost indexation factor

59EAC Rounding off amounts

59EA Certain indexed amounts to be increased in line with increases in Male Total Average Weekly Earnings

Subdivision C—Adjustment of other rates

59G Adjustment of single pension rate MBR amount

59GA Adjustment of rent free area

59GB Adjustment of adjusted income free area

59H Adjustment of pension single non property owner AVL

59J Adjustment of special illness separated special resident AVL

59LA Adjustment of ceiling rate

59LB Adjustment of veteran payment maximum basic rates

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