Veterans’ Entitlements (Kind, Extent and Purchase Amount for Asset-tested Income Streams (Lifetime)) Determination 2019 (Cth)

Repatriation Commission

Veterans' Entitlements (Kind, Extent and Purchase Amount for Asset‑tested Income Streams (Lifetime)) Determination 2019

Instrument 2019 No. R32

The Repatriation Commission makes this instrument under subsections 5JE(3), 52BAA(7) and 52BAB(16) of the Veterans' Entitlements Act 1986.

Dated this 13th of June 2019

The Seal of the ) Repatriation Commission ) SEAL was affixed hereto in the ) presence of: )

……Elizabeth Cosson…… ……Craig Orme…… ELIZABETH COSSON CRAIG ORME AM CSC DSC AM CSC PRESIDENT DEPUTY PRESIDENT

……M A Kelly…… ……D Spinks…… MAJOR GENERAL MARK KELLY DONALD SPINKS AO DSC AM COMMISSIONER COMMISSIONER

1 Name This instrument is the Veterans' Entitlements (Kind, Extent and Purchase Amount for Asset-tested Income Streams (Lifetime)) Determination 2019.

2 Commencement

This instrument commences on 1 July 2019 immediately after the commencement of Schedule 1 of the Social Services and Other Legislation Amendment (Supporting Retirement Incomes) Act 2019.

3 Authority This instrument is made under the following provisions of the Veterans' Entitlements Act 1986: (a) subsection 5JE(3); (b) subsection 52BAA(7); (c) subsection 52BAB(16).

4 Definitions Note: Three expressions that are used in this instrument are defined in the Act, including the following: (a) asset‑tested income stream (lifetime) (see subsection 5J(1) of the Act); (b) governing rules (see subsection 5J(1) of the Act); (c) income stream (see subsection 5J(1) of the Act). In this instrument: account‑based annuity has the same meaning as in the Superannuation Industry (Supervision) Regulations 1994. account‑based pension has the same meaning as in the Superannuation Industry (Supervision) Regulations 1994. Act means the Veterans' Entitlements Act 1986. allocated annuity means an annuity provided under a contract that meets the standards in subregulation 1.05(4) of the Superannuation Industry (Supervision) Regulations 1994. allocated pension means a pension provided under governing rules that meet the standards in subregulation 1.06(4) of the Superannuation Industry (Supervision) Regulations 1994. lifetime component has the meanings given by section 5.