Summary

Amends the

in relation to: direct deduction arrangements; Victoria Cross allowance; automatic grant of income support supplement to age and wife pensioners; calculation of disability pension arrears; partner service pension for Norfolk Island residents; calculation of rent assistance; reduction in pension arrears payment resulting from overpayment of rent assistance and partner’s receipt of service pension; value of financial assets for purposes of deeming rules; clarification of deemed income and actual income from accrued returns on financial assets; means test exemption of certain superannuation assets; income and assets test treatment of small superannuation accounts and private rental income; adjustments to ceiling rate service pension; offence provisions; disposal of income and assets; compensation recovery; and minor and technical amendments. Also contains application and transitional provisions.