Veterans' Entitlements (Income Exempt Lump Sums) Determination 2025 (Cth)

Veterans' Entitlements (Income Exempt Lump Sums) Determination 2025 I, Luke Brown, a delegate of the Repatriation Commission, make the following determination. Dated 31 January 2025

Luke Brown First Assistant Secretary, Policy Division Department of Veterans' Affairs

1 Name This instrument is the Veterans' Entitlements (Income Exempt Lump Sums) Determination 2025.

2 Commencement This instrument commences on the day after the day it is registered.

3 Authority This instrument is made under paragraph 5H(12)(c) of the Veterans' Entitlements Act 1986 (the Act).

4 Exempt lump sums—Schedule 1 For paragraph 5H(12)(c) of the Act, an amount received by a person or the person's partner is an exempt lump sum if the amount is 1 of a class of amount mentioned in Column 3 of an item of Schedule 1.

5 Repeals Each instrument or part of the instrument mentioned in an item of Schedule 2 is repealed according to its terms. Schedule 1—Exempt lump sums (see section 4)

Column 1 Column 2 Column 3 Item Subject Class of amount 1 Japanese internment Compensation payment— 1. as defined in the Compensation (Japanese Internment) Act 2001; or 2. made under the Veterans' Entitlements (Compensation — Japanese Internment) Regulations 2001 2 North Korean internment Compensation payment made under Part 2 (Compensation payments for North Korean internment) of the Veterans' Entitlements (Clarke Review) Act 2004 3 South Australia energy concession One-off annual payment by the State Government of South Australia to people eligible for the South Australia Energy Concession to assist with their energy bills 4 Holocaust survivors One-off payment made on or after 11 February 2000, from a Humanitarian Fund established by Swiss banks and administered by the World Jewish Restitution Organisation through the Executive Council of Australian Jewry, to a person who— 1. lived under the Nazi regime, Nazi occupation or Nazi collaborative regime; and 2. is an Australian citizen or an Australian resident; and 3. is in receipt of: 1. an income support payment within the meaning of the Social Security Act 1991; or 2. a pension 5 Annuity contracts Amount paid to the person by life insurance business within the meaning of the Life Insurance Act 1995 or superannuation fund as defined in subsection 10(1) of the Superannuation Industry (Supervision) Act 1993 as the minimum amount payable consistent with the need to convert the person's existing annuity contract to an asset test exempt product if— 1. the person has an annuity contract with the life insurance business or superannuation fund that was current on 20 September 1998; and 2. the person received an income support payment, within the meaning of the Social Security Act 1991, on 19 September 1998; and 3. the annuity contract was converted to an asset test exempt product between 20 September 1998 and 31 July 1999 6 Home equity Amount greater than $40 000 that is paid to or for the following people under a home equity conversion agreement—