Regulatory Reform Omnibus Act 2025 (73 of 2025)

Schedule 4   Amendments to increase government efficiency and improve productivity

Part 7   Ensuring consistency across social security benefits

Division 5   Accessing home equity access scheme

Social Security Act 1991

55   After section 1141A

Insert:

1141B Person ceases to participate in home equity access scheme if person starts receiving service pension or income support supplement

If:

(a) a person is qualified for, but is not receiving:

(i) an age pension; or

(ii) a disability support pension; or

(iii) a carer payment; and

(b) the person is participating in the home equity access scheme; and

(c) the person starts to receive a service pension or income support supplement;

the scheme ceases to operate in relation to the person under this Act at the beginning of the pension period (within the meaning of the Veterans' Entitlements Act) for the service pension or income support supplement being paid to the person during which the person starts to receive service pension or income support supplement.

Note 1: For repayment or recovery of the debt owed by the person, see sections 1139 and 1142A.

Note 2: The person may be eligible to participate in the home equity access scheme under the Veterans' Entitlements Act when the scheme ceases to operate in relation to the person under this section.