Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2013 [F2013L00216]-Continuing matters [2014] AUSStaCSDLM 36 (12 February 2014)

• Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2013 [F2013L00216]
• Unclear basis for calculation or setting of deeming rates

Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2013 [F2013L00216]

Purpose	Revokes the Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2010 (No. 1) to change the deemed rates of income upon financial assets for the purposes of the means test for the rate of social security payments administered by FaHCSIA (from 20 March 2013)
Last day to disallow	18 June 2013
Authorising legislation	Social Security Act 1991
Department	Families, Housing, Community Services and Indigenous Affairs

ISSUE:

Unclear basis for calculation or setting of deeming rates

This instrument revokes and replaces the Social Security (Deeming Threshold Rates) (FaHCSIA) Determination 2010 (No. 1) to change the deemed rates of income upon financial assets for the purposes of the means test for the rate of social security payments administered by FaHCSIA. Noting that the deeming rate would presumably have a financial impact on certain individuals, the committee's usual expectation is that the ES to an instrument with a financial impact sets out the basis on which any new fee, rate or charge has been set or calculated [the committee requested further information from the minister].

MINISTER'S RESPONSE:

The minister advised that the instrument had been revoked and was no longer in effect. Given this, it was the minister's view that a person would be unlikely to access the revoked determination for information on how the deeming rates were set. However, the minister advised that more information regarding the setting of deeming rates would be included in future ESs in response to the committee's comments.

COMMITTEE RESPONSE:

The committee thanks the minister for his response and has concluded its interest in the matter.