Commonwealth Numbered Acts

SOCIAL SECURITY AND VETERANS' AFFAIRS LEGISLATION AMENDMENT ACT (No. 2) 1990 No. 119, 1990 - SECT 8

8. After section 6 of the Principal Act the following section is inserted:
Income from deprived property

"6A. (1) In this section: `property rate' means 10% or, if there is a lower
rate determined under subsection (3), that lower rate.

"(2) Where, because of section 6, the value of a person's property for the
purposes of this Act includes the value of property disposed of after 21
August 1990:

   (a)  the person is taken to obtain income from that property so disposed
        of; and

   (b)  that income is taken to be whichever is the higher of interest on the
        value of that property so disposed of at the property rate per year or
        the amount calculated in accordance with subsection 6 (8).

"(3) The Minister may from time to time, by notice in writing, determine a
rate of less than 10% that is to be the property rate for the purposes of this
section.

"(4) A notice by the Minister under subsection (3) is a disallowable
instrument for the purposes of section 46A of the Acts Interpretation Act 
1901 .".