Federal Register of Legislation - Australian Government

Primary content

A Bill for an Act to amend the Social Security Act 1991, to assist those who have had their pension cut because of lengthy delays in the construction of a new home due to the national shortage of building tradespeople
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Registered 22 Sep 2006
Introduced Senate 14 Sep 2006

2004‑2005‑2006

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

 

Social Security (Helping Pensioners Hit by the Skills Shortage) Bill 2006

 

No.      , 2006

 

(Senator Evans)

 

 

 

A Bill for an Act to amend the Social Security Act 1991, to assist those who have had their pension cut because of lengthy delays in the construction of a new home due to the national shortage of building tradespeople

  

  


Contents

1............ Short title............................................................................................ 1

2............ Commencement.................................................................................. 1

3............ Schedule(s).......................................................................................... 2

Schedule 1—Amendment of the Social Security Act 1991                              3

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A Bill for an Act to amend the Social Security Act 1991, to assist those who have had their pension cut because of lengthy delays in the construction of a new home due to the national shortage of building tradespeople

 

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Social Security (Helping Pensioners Hit by the Skills Shortage) Act 2006.

2  Commencement

                   This Act commences on the day on which it receives the Royal Assent.

3  Schedule(s)

                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.


 

Schedule 1Amendment of the Social Security Act 1991

1  After subsection 1118(2A)

Insert:

          (2B)  If:

                     (a)  a person sells the person’s principal home; and

                     (b)  the person is unable within 12 months to acquire another residence that is to be the person’s principal home; and

                     (c)  in the Secretary’s opinion the delay in acquiring another residence that is to be the person’s principal home is because of circumstances beyond the person’s control; and

                     (d)  the person is likely, within 24 months, to apply the whole or a part of the proceeds of the sale in acquiring another residence that is to be the person’s principal home;

then so much of the proceeds of the sale as the person is likely to apply in acquiring the other residence is to be disregarded during that period for the purpose of this Act (other than Division 1B of Part 3.10).