Section 423 — Social Security Act 2018: Regulations: accommodation supplement

423 Regulations: accommodation supplement (1) The Governor-General may, by Order in Council, make regulations that, for the purposes of subpart 10 of Part 2 and Part 7 of Schedule 4,— (a) set out the assets requirement ( see section 65(1)(b) ): (b) exempt any item or kind of cash assets or any amount of cash assets from the definition of cash assets in section 68(2) : (c) define Area 1, Area 2, Area 3, and Area 4 ( see the definitions of those terms in Schedule 2 , and see also section 454(1)(a) (certain orders are confirmable instruments)): (d) prescribe 1 or more base rates of accommodation supplement, and how each prescribed base rate is to be assessed: (e) provide for required income-based reductions to the assessed base rate amount of accommodation supplement (including any circumstances when specified income may be disregarded): (f) require MSD to round up (for example, to the nearest amount in complete single dollars, or in complete multiple dollar amounts) assessed amounts of accommodation supplement. (2) Regulations made under subsection (1)(c) have effect in respect of any cash assets specified in the regulations on and after a date— (a) specified in the regulations; and (b) earlier than, the same as, or later than, the date on which the regulations are made. (3) For the purposes of regulations made under subsection (1)(e), the following must be treated as $1 a week of income: (a) every $100 of cash assets over $5,400 held by— (i) a person who is in a relationship; or (ii) a single person who has a dependent child or children; and (b) every $100 of cash assets over $2,700 held by any other person. Compare: 1964 No 136 ss 61E , 61EC(2) , 61I(1), (3)