Social Services and Other Legislation Amendment Act 2014 (14 of 2014)

Schedule 11   Extending the deeming rules to account-based income streams

Part 1   Amendments

Social Security Act 1991

4   Subsection 9(1) (after paragraph (h) of the definition of financial investment )

Insert:

(i) an asset-tested income stream (long term) that is an account-based pension within the meaning of the Superannuation Industry (Supervision) Regulations 1994; or

(j) an asset-tested income stream (long term) that is an annuity (within the meaning of the Superannuation Industry (Supervision) Act 1993) provided under a contract that meets the requirements determined in an instrument under subsection (1EA);