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

2   Subsection 8(1) (note 3 at the end of the definition of ordinary income )

Omit "sections 1076-1084 (deemed income from financial assets) and sections 1095-1099DAA (income from income streams)", substitute "Division 1B of Part 3.10 (income from financial assets (including income streams (short term) and certain income streams (long term)) and Division 1C of Part 3.10 (income from income streams not covered by Division 1B of Part 3.10)".