Social Security Point-in-Time Service Updates

The Social Security Point-in-Time Service has been updated to include the Treasury Laws Amendment (2022 Measures No. 1) Act 2022 (Cth) (Act 35 of 2022).

Act 35 of 2022

An Act to amend the law relating to taxation and superannuation, to make miscellaneous and technical amendments of the statute law of the Commonwealth, and for related purposes.

Schedule 4 amends the Social Security Act 1991 to insert a new subparagraph (ivc) after subparagraph 9B(2)(h)(ivb) and a new subparagraph (via) after subparagraph 9BA(2)(f)(vi) to allow life expectancy income streams to be commuted to the extent necessary in order to comply with section 136-80 in Schedule 1 to the Taxation Administration Act 1953. 

These amendments have been updated in the Point-in-Time Social Security Service current to 22 August 2022. (NB: Subscription required).

If you are not already a subscriber to this or other Point-in-Time Services then please contact us to find out more or to take a free trial.