Social Security Act 1964

  • repealed
  • Social Security Act 1964: repealed, on 26 November 2018, by section 455(1) of the Social Security Act 2018 (2018 No 32).
66B Redundancy and retirement payments not to be taken into account in determining rates of benefits

In computing the income of any person for the purpose of determining the rate of any benefit, no account shall be taken of any redundancy payment or retirement payment (as those terms are defined in section 80B(3)) received by that person, except to the extent that the payment may constitute cash assets that are required to be taken into account in determining the rate of an accommodation supplement or a rent rebate under section 61F(1A) or section 61FB.

Section 66B: replaced, on 1 January 1994, by section 3(1) of the Social Security Amendment Act 1993 (1993 No 14).

Section 66B: amended, on 1 April 1994, by section 5 of the Social Welfare (Transitional Provisions) Amendment Act (No 2) 1993 (1993 No 149).