Veterans' Entitlements Act 1986

Sections and provisions with full text and the judgments that cite each one.

Section 52ZEA — Non-receipt of service pension or income support supplement

(1) This section applies for the purposes of a provision (the relevant provision) of this or another Act if: (a) the relevant provision provides a benefit (whether the benefit is a pension, benefit,…

Section 52ZJA — Commission may cease person’s participation in home equity access scheme

(1) If: (a) a person is participating in the home equity access scheme; and (b) the Commission is satisfied that the person ceases to be eligible to participate in the scheme; the Commission may, in…

Section 52ZKA — Repayment or recovery of debt after home equity access scheme ceases to operate

(1) The debt owed by a person under section 52ZC, at the time the home equity access scheme ceases to operate in relation to the person by operation of section 52ZJ, 52ZJA, 52ZJB or 52ZK, may be…

Section 52ZMA — Debt resulting from commutation of asset-test exempt income stream contrary to subsection 5JA(2), 5JB(2) or 5JBA(2)

(1) If: (a) a person is provided with an asset-test exempt income stream for a period beginning on the first day in respect of which an income stream payment was made to the person and ending on the…

Section 52ZMAA — No negative equity guarantee

When adjusted value of assets is exceeded (1) If: (a) a person owes a debt to the Commonwealth under section 52ZC; and (b) neither subparagraph 52ZA(1)(e)(ii) nor subparagraph 52ZA(2)(e)(ii) applied…

Section 52ZZA — Designated private companies

(1) For the purposes of this Division, a company is a designated private company at a particular time if: (a) the company satisfies at least 2 of the following conditions in relation to the last…

Section 52ZZZA — Individual disposes of asset to company or trust before 1 January 2002—individual’s spouse is attributable stakeholder

(1) If: (a) an individual has transferred property to a company or trust before 1 January 2002; and (b) the transfer amounts to a disposal by the individual of an asset of the individual; and (c)…

Section 52B — Value of asset-tested income streams that are defined benefit income streams

(1) This section applies to a person’s asset-tested income stream if it is a defined benefit income stream and it is not a family law affected income stream. Note: For family law affected income…

Section 52BAB — Value of asset-tested income streams (lifetime) that are not managed investments

(1) This section applies to a person’s asset-tested income stream (lifetime) in relation to a day that is on or after the person’s assessment day for the income stream. Note 1: For asset-tested…

Section 52BB — Value of partially asset-test exempt income streams

(1) This section applies to income streams covered by paragraph 52(1)(daa). (2) The value of such an income stream is, for the purposes of paragraph 52(1)(daa), worked out as follows: (a) if the…

Section 52CB — Value of life policy

(1) This section applies in relation to a person and a day (the assessment day) if: (a) the person has reached: (i) pension age; or (ii) in relation to income support supplement—qualifying age; and…

Section 52JB — Dispositions of assets in 5 year period—individuals

Disposition to which section applies (1) This section also applies to a disposition (the relevant disposition) on or after 1 July 2002 of an asset by a person who is not a member of a couple at the…

Section 52ZB — Effect of participation in home equity access scheme—pension rate

(1) This section applies if: (a) a person is eligible to participate in the home equity access scheme; and (b) the person makes a request to participate under section 52ZD; and (c) the Commission is…

Section 52ZJB — Person ceases to participate in home equity access scheme if person starts receiving certain social security pensions

If: (a) a person is eligible for, but is not receiving, a service pension or income support supplement; and (b) the person is participating in the home equity access scheme; and (c) the person starts…

Section 52ZZB — Designated private trusts

(1) For the purposes of this Division, a trust is a designated private trust unless: (a) all of the following conditions are satisfied: (i) the trust is a fixed trust; (ii) the units in the trust are…

Section 52ZZZB — Individual disposes of ordinary income to company or trust

(1) If: (a) an individual transfers property to a company or trust on or after 1 January 2002; and (b) either: (i) as a result of the transfer, the individual became an attributable stakeholder of…

Section 52BC — Value of superannuation reserves for superannuation funds of 4 members or less

(1) This section applies in calculating the value of a person’s investment in a superannuation fund if: (a) the fund has 4 or fewer members; and (b) the fund has reserves (within the meaning of…

Section 52C — Effect of charge or encumbrance on value of assets

(1) Where there is a charge or encumbrance over particular assets of the person, the value of the assets, for the purposes of calculating the value of the person’s assets for the purposes of this Act…

Section 52JC — Disposition of assets in tax year—members of couples

Dispositions to which section applies (1) If there is a disposition (the relevant disposition) on or after 1 July 2002 of an asset by: (a) a person who, at the time of the relevant disposition, is a…

Section 52ZC — Effect of participation in home equity access scheme—creation of debt

(1) If the rate of the pension payable by operation of the home equity access scheme is more than the rate that would have been received by the person but for the operation of the scheme, the person…

Section 52ZZC — Controlled private companies

(1) For the purposes of this Division, a company is a controlled private company in relation to an individual if the company is a designated private company and: (a) the individual passes the control…

Section 52ZZZC — Disposal of income by company or trust

(1) If: (a) an individual is an attributable stakeholder of a company or trust; and (b) the company or trust disposes of ordinary income of the company or trust; and (c) if that income had been…

Section 52D — Loans

If a person lends an amount after 22 May 1986, the value of the assets of the person for the purposes of this Act includes so much of that amount as remains unpaid but does not include any amount…

Section 52JD — Disposition of assets in 5 year period—members of couples

Section 52ZD — Need for a request to participate

(1) A person who wants to participate in the home equity access scheme must make a request to participate in accordance with this section. (1A) A request under subsection (1) must: (a) specify any…

Section 52ZZD — Direct voting interest in a company

(1) An entity holds a direct voting interest in a company at a particular time equal to the percentage of the voting power in the company that the entity is in a position to control at that time. (2)…

Section 52ZZZD — Individual disposes of income to company or trust before 1 January 2002—individual is attributable stakeholder

(1) If: (a) an individual has transferred property to a company or trust before 1 January 2002; and (b) the transfer amounts to a disposal by the individual of ordinary income of the individual; and…

Section 52E — Disposal of assets

For the purposes of this Act, a person disposes of assets of the person if the person engages in a course of conduct that diminishes, directly or indirectly, the value of the person’s assets and: (a)…

Section 52JE — Certain dispositions to be disregarded

This Subdivision does not apply to a disposition of assets that took place: (a) more than 5 years before the time when: (i) the person who disposed of those assets; or (ii) if that person was, at the…

Section 52ZE — Need for a request to later nominate or change nominated amount or rate of pension

(1) A person who is participating in the home equity access scheme and who wants to: (a) nominate an amount to be the nominated amount for the purposes of this Subdivision; or (b) nominate a rate of…

Section 52ZZE — Voting power

(1) A reference in this Subdivision to the voting power in a company is a reference to the total rights of shareholders to vote, or participate in any decision-making, concerning any of the…

Section 52ZZZE — Individual disposes of income to company or trust before 1 January 2002—individual’s spouse is attributable stakeholder

Section 52F — Amount of disposition

Where a person disposes of assets, the amount of the disposition is: (a) if the person receives no consideration for the diminution in the value of the assets—an amount equal to the amount of the…

Section 52ZF — Existence of debt results in charge over real assets

Person not member of a couple (1) If a person who is not a member of a couple owes a debt to the Commonwealth under section 52ZC, the person’s real assets are subject to a charge in favour of the…

Section 52ZZF — Direct control interest in a company

(1) An entity holds a direct control interest in a company at a particular time equal to the percentage of the total paid-up share capital of the company in which the entity holds an interest at that…

Section 52ZZZF — Concessional primary production trusts

(1) For the purposes of this Division, a trust is a concessional primary production trust in relation to an individual at a particular time (the test time), if: (a) at the test time, the trust is a…

Section 52G — Disposal of assets in pension years—not a member of a couple

(1) If, on or after 1 March 1986 and before 1 July 2002: (a) a person who is not a member of a couple has, during a pension year of the person, disposed of assets of the person; and (b) the amount of…

Section 52ZG — Debt not to be recovered until after death

(1) The Commonwealth is not entitled to recover a debt under section 52ZC from a person until after the person’s death. (2) In the following circumstances, the Commonwealth is not entitled to recover…

Section 52ZZG — Interest in a share

(1) This section applies for the purpose of working out the percentage of a company’s total paid-up share capital in which an entity holds an interest. (2) Subject to this section, for the purposes…

Section 52ZZZG — Individual ceases to be an attributable stakeholder of a trust—receipt of remuneration or other benefits from trust during asset deprivation period

(1) For the purposes of this section, if: (a) an individual ceases to be an attributable stakeholder of a trust on or after 1 January 2002; and (b) immediately after the cessation, the trust was a…