Social Security (Special Disability Trust —Reporting Requirements) Amendment Determination 2023

I, Gillian Beer, Branch Manager of Payment Structures and Seniors Branch and delegate of the Secretary of the Department of Social Services, make the following determination.

Dated 23 February 2023    

Gillian Beer

Contents

1  Name

2  Commencement

3  Authority

4  Schedules

Schedule 1—Amendments

Social Security (Special Disability Trust — Trust Deed, Reporting and Audit Requirements) (FaHCSIA) Determination 2013

1  Name

  This instrument is the Social Security (Special Disability Trust — Reporting Requirements) Amendment Determination 2023.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under subsection 1209S (4) of the Social Security Act 1991.

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  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

Social Security (Special Disability Trust — Trust Deed, Reporting and Audit Requirements) (FaHCSIA) Determination 2013

1  Subparagraph 3.1(a)(i)

Repeal the subparagraph, substitute:

(i) a member of CPA Australia, Chartered Accountants Australia and New Zealand or the Institute of Public Accountants; or

2  Subsection 3.2(1) (after paragraph (b))

Insert:

(ba) notes that disclose:

(i) the basis on which the financial statements were prepared, including whether they comply with the requirements of the Act and the trust deed; and

(ii) the material accounting policies applied in the financial statements and the nature and extent of any changes in those accounting policies, including the reasons why applying the new accounting policy provides more relevant and reliable information; and

3  Subsection 3.2(2)

Repeal the subsection, substitute:

(2) Financial statements given in accordance with section 1209S of the Act and this Part must give a true and correct view in all material particulars of the trust’s financial position and performance as at 30 June of the relevant financial year.