Commonwealth Consolidated Acts

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SOCIAL SECURITY ACT 1991 - SECT 1120A

Value of asset - tested FLA income streams

  (1)   This section applies to family law affected income streams.

  (2)   The value of an income stream that is not a defined benefit income stream is, for the purposes of the assets test, determined by the Secretary.

  (3)   The value of an income stream that is a defined benefit income stream is, for the purposes of the assets test, determined by the Secretary.

  (4)   In making a determination under subsection   (2) or (3), the Secretary must comply with any relevant decision - making principles in force under subsection   (5).

  (5)   The Secretary may, by legislative instrument, formulate principles ( decision - making principles ) to be complied with by him or her in making decisions under:

  (a)   subsection   (2); or

  (b)   subsection   (3).


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