Taxation Laws Amendment Act (No. 1) 1995 (120 of 1995)

Schedule 1   VARIOUS AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936

Part 2   SOCIAL SECURITY

18   Section 24ABR

Repeal the section, substitute:

Special needs disability support pension

"24ABR.(1) The treatment of payments of special needs disability support pension under section 773 of the Social Security Act 1991 is as follows:

Item Category Supplementary amounts Balance of payment

1 Taxpayer not under Exempt Not exempt

pension age

2 Taxpayer under

pension age Exempt Exempt

"(2) Subsection (1) has effect subject to section 24ABV (which deals with bereavement payments) and subsection (3) of this section (which deals with certain payments after the death of the taxpayer's partner).

"(3) If:

(a) a taxpayer's partner died; and

(b) the taxpayer is not under pension age; and

(c) the taxpayer would have been qualified for payments under a bereavement Subdivision but for an exclusion provision (taxpayer's pension or allowance increased on partner's death to such an extent that no bereavement payments); and

(d) the taxpayer derives payments of special needs disability support pension under section 773 of the Social Security Act 1991 on one or more of the 7 pension paydays after the death; then those payments on that payday or each of those paydays are not treated under subsection (1) but are treated as follows:

(e) the supplementary amounts are exempt;

(f) so much of the balance as exceeds what would have been the balance (payments less supplementary amounts) if the partner had not died is exempt;

(g) the rest of the balance is not exempt.".