Summary
Amends the
Social Security Act 1991
to: reduce the length of the liquid assets waiting period by doubling the maximum reserve threshold for liquid assets to $5,000 for singles without dependants or $10,000 for others for a two year period from 1 April 2009; and remove the surrender value of life insurance policies from the definition of ‘liquid assets’ for social security purposes. Also makes technical amendments to five other Acts.