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Social Services Laws (Present Value of Unpaid Amount –Interest Rate) Determination 2018

In force

Administered by

Department of Social Services

This item is authorised by the following titles:

Latest version

F2018L00166

28 February 2018

Table of contents

1 Name This instrument is the Social Services Laws (Present Value of Unpaid Amount –Interest Rate) Determination 2018. 2 Commencement This Determination commences on 1 March 2018. 3 Authority for this Determination This Determination, other than Schedule 1, is made under: section 1237AAB of the Social Security Act 1991; section 43E of the Student Assistance Act 1973; and section 100 of the A New Tax System (Family Assistance) (Administration) Act 1999. 4 Authority for Schedule 1 to this Determination Schedule 1 to this Determination is made under section 198 of the Paid Parental Leave Act 2010. 5 Schedules Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms. 6 Annual interest rate For the definition of interest in the subsections specified in subsection (2), the specified annual rate of interest is 5%. The following subsections are specified: subsection 1237AAB(6) of the Social Security Act 1991; subsection 43E(6) of the Student Assistance Act 1973; subsection 100(6) of the A New Tax System (Family Assistance) (Administration) Act 1999. Schedule 1—Amendments Paid Parental Leave Rules 2010 1 At the end of Division 4.3.2 Add: Division 4.3.3 Waiver of debts – settlement of civil actions 4.22 Settlement interest For the definition of settlement interest in subsection 198(6) of the Act, the prescribed annual rate of interest is 5%. Schedule 2—Repeals Social Security (Present Value of Unpaid Amounts—Interest Rate) Determination (No. 1) 1 The whole of the instrument Repeal the instrument. Family Assistance (Present Value of Unpaid Amount—Interest Rate) Determination 2018 2 The whole of the instrument Repeal the instrument.
1 Name This instrument is the Social Services Laws (Present Value of Unpaid Amount –Interest Rate) Determination 2018. 2 Commencement This Determination commences on 1 March 2018. 3 Authority for this Determination This Determination, other than Schedule 1, is made under: section 1237AAB of the Social Security Act 1991; section 43E of the Student Assistance Act 1973; and section 100 of the A New Tax System (Family Assistance) (Administration) Act 1999. 4 Authority for Schedule 1 to this Determination Schedule 1 to this Determination is made under section 198 of the Paid Parental Leave Act 2010. 5 Schedules Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms. 6 Annual interest rate For the definition of interest in the subsections specified in subsection (2), the specified annual rate of interest is 5%. The following subsections are specified: subsection 1237AAB(6) of the Social Security Act 1991; subsection 43E(6) of the Student Assistance Act 1973; subsection 100(6) of the A New Tax System (Family Assistance) (Administration) Act 1999. Schedule 1—Amendments Paid Parental Leave Rules 2010 1 At the end of Division 4.3.2 Add: Division 4.3.3 Waiver of debts – settlement of civil actions 4.22 Settlement interest For the definition of settlement interest in subsection 198(6) of the Act, the prescribed annual rate of interest is 5%. Schedule 2—Repeals Social Security (Present Value of Unpaid Amounts—Interest Rate) Determination (No. 1) 1 The whole of the instrument Repeal the instrument. Family Assistance (Present Value of Unpaid Amount—Interest Rate) Determination 2018 2 The whole of the instrument Repeal the instrument.
1 Name This instrument is the Social Services Laws (Present Value of Unpaid Amount –Interest Rate) Determination 2018. 2 Commencement This Determination commences on 1 March 2018. 3 Authority for this Determination This Determination, other than Schedule 1, is made under: section 1237AAB of the Social Security Act 1991; section 43E of the Student Assistance Act 1973; and section 100 of the A New Tax System (Family Assistance) (Administration) Act 1999. 4 Authority for Schedule 1 to this Determination Schedule 1 to this Determination is made under section 198 of the Paid Parental Leave Act 2010. 5 Schedules Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms. 6 Annual interest rate For the definition of interest in the subsections specified in subsection (2), the specified annual rate of interest is 5%. The following subsections are specified: subsection 1237AAB(6) of the Social Security Act 1991; subsection 43E(6) of the Student Assistance Act 1973; subsection 100(6) of the A New Tax System (Family Assistance) (Administration) Act 1999. Schedule 1—Amendments Paid Parental Leave Rules 2010 1 At the end of Division 4.3.2 Add: Division 4.3.3 Waiver of debts – settlement of civil actions 4.22 Settlement interest For the definition of settlement interest in subsection 198(6) of the Act, the prescribed annual rate of interest is 5%. Schedule 2—Repeals Social Security (Present Value of Unpaid Amounts—Interest Rate) Determination (No. 1) 1 The whole of the instrument Repeal the instrument. Family Assistance (Present Value of Unpaid Amount—Interest Rate) Determination 2018 2 The whole of the instrument Repeal the instrument.
1 Name This instrument is the Social Services Laws (Present Value of Unpaid Amount –Interest Rate) Determination 2018. 2 Commencement This Determination commences on 1 March 2018. 3 Authority for this Determination This Determination, other than Schedule 1, is made under: section 1237AAB of the Social Security Act 1991; section 43E of the Student Assistance Act 1973; and section 100 of the A New Tax System (Family Assistance) (Administration) Act 1999. 4 Authority for Schedule 1 to this Determination Schedule 1 to this Determination is made under section 198 of the Paid Parental Leave Act 2010. 5 Schedules Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms. 6 Annual interest rate For the definition of interest in the subsections specified in subsection (2), the specified annual rate of interest is 5%. The following subsections are specified: subsection 1237AAB(6) of the Social Security Act 1991; subsection 43E(6) of the Student Assistance Act 1973; subsection 100(6) of the A New Tax System (Family Assistance) (Administration) Act 1999. Schedule 1—Amendments Paid Parental Leave Rules 2010 1 At the end of Division 4.3.2 Add: Division 4.3.3 Waiver of debts – settlement of civil actions 4.22 Settlement interest For the definition of settlement interest in subsection 198(6) of the Act, the prescribed annual rate of interest is 5%. Schedule 2—Repeals Social Security (Present Value of Unpaid Amounts—Interest Rate) Determination (No. 1) 1 The whole of the instrument Repeal the instrument. Family Assistance (Present Value of Unpaid Amount—Interest Rate) Determination 2018 2 The whole of the instrument Repeal the instrument.
1 Name This instrument is the Social Services Laws (Present Value of Unpaid Amount –Interest Rate) Determination 2018. 2 Commencement This Determination commences on 1 March 2018. 3 Authority for this Determination This Determination, other than Schedule 1, is made under: section 1237AAB of the Social Security Act 1991; section 43E of the Student Assistance Act 1973; and section 100 of the A New Tax System (Family Assistance) (Administration) Act 1999. 4 Authority for Schedule 1 to this Determination Schedule 1 to this Determination is made under section 198 of the Paid Parental Leave Act 2010. 5 Schedules Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms. 6 Annual interest rate For the definition of interest in the subsections specified in subsection (2), the specified annual rate of interest is 5%. The following subsections are specified: subsection 1237AAB(6) of the Social Security Act 1991; subsection 43E(6) of the Student Assistance Act 1973; subsection 100(6) of the A New Tax System (Family Assistance) (Administration) Act 1999. Schedule 1—Amendments Paid Parental Leave Rules 2010 1 At the end of Division 4.3.2 Add: Division 4.3.3 Waiver of debts – settlement of civil actions 4.22 Settlement interest For the definition of settlement interest in subsection 198(6) of the Act, the prescribed annual rate of interest is 5%. Schedule 2—Repeals Social Security (Present Value of Unpaid Amounts—Interest Rate) Determination (No. 1) 1 The whole of the instrument Repeal the instrument. Family Assistance (Present Value of Unpaid Amount—Interest Rate) Determination 2018 2 The whole of the instrument Repeal the instrument.
1 Name This instrument is the Social Services Laws (Present Value of Unpaid Amount –Interest Rate) Determination 2018. 2 Commencement This Determination commences on 1 March 2018. 3 Authority for this Determination This Determination, other than Schedule 1, is made under: section 1237AAB of the Social Security Act 1991; section 43E of the Student Assistance Act 1973; and section 100 of the A New Tax System (Family Assistance) (Administration) Act 1999. 4 Authority for Schedule 1 to this Determination Schedule 1 to this Determination is made under section 198 of the Paid Parental Leave Act 2010. 5 Schedules Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms. 6 Annual interest rate For the definition of interest in the subsections specified in subsection (2), the specified annual rate of interest is 5%. The following subsections are specified: subsection 1237AAB(6) of the Social Security Act 1991; subsection 43E(6) of the Student Assistance Act 1973; subsection 100(6) of the A New Tax System (Family Assistance) (Administration) Act 1999. Schedule 1—Amendments Paid Parental Leave Rules 2010 1 At the end of Division 4.3.2 Add: Division 4.3.3 Waiver of debts – settlement of civil actions 4.22 Settlement interest For the definition of settlement interest in subsection 198(6) of the Act, the prescribed annual rate of interest is 5%. Schedule 2—Repeals Social Security (Present Value of Unpaid Amounts—Interest Rate) Determination (No. 1) 1 The whole of the instrument Repeal the instrument. Family Assistance (Present Value of Unpaid Amount—Interest Rate) Determination 2018 2 The whole of the instrument Repeal the instrument.