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Investment Information Systems

Document

Last amended: 5 March 2010

DVA's investment data bases

DVA has three investment data bases to help staff with assessing financial assets for service pension and Income Support Supplement purposes.

Staff can access and capture investment information in PIPSPC for the following financial asset categories:

  • Financial Institution Deposit Accounts
  • Managed Investments
  • Listed Shares
Data base information

The databases display the following information:

  • redemption prices and last sale prices for unitised managed investments and listed shares,     More →
  • interest rates, tier levels and interest calculation methods for bank, building society and credit union deposit accounts,
  • superannuation flags to indicate whether an investment is a superannuation fund investment,
  • funeral bond flags to indicate whether a managed investment is a funeral bond investment, and
  • historical information for managed investments, shares, and bank, building society and credit union deposit accounts to indicate how each investment was assessed before the extended deeming rules were introduced on 1 July 1996.
Deeming Exemption Register

The Deeming Exemption Register contains information on church or charitable investments that were exempted prior to 1 January 2010, and exempted failed investments including:

  • an alphabetical listing of the exempted investments;
  • actual interest rates, cents per unit and cents per share dividend information for failed investments which have been exempted from the deeming provisions, and
  • deeming exemption dates to indicate when an investment has been exempted from the extended deeming rules.     More →


Deeming of shares investments and managed investments

Section 9.5.5

Section 9.5.6

More → (go back)

Reference Library – Deeming Exemptions Register

DER/Overview

More → (go back)

The Department of Veterans' Affairs.

A service pension is an income support payment broadly equivalent to the social security age and disability support pensions. It may be paid once a veteran or partner has reached the nominated age or is incapacitated for work.

ISS is an income support payment that may be paid to eligible war widows and widowers under the VEA and persons receiving wholly dependent partners' compensation under the MRCA, and who satisfy the means tests. It is an indexed rate, increased twice-yearly in March and September in line with changes to the cost of living and/or average wages. Income Support Supplement (ISS) legislation commenced on 20 March 1995. It is a payment created to replace the ceiling rate income support age, carer, wife and disability support pensions, paid to war widows/widowers by Centrelink.

 

 

According to section 5J(1) of the VEA a financial asset means;

 

A superannuation fund is defined in the VEA as being:

  • a fund that is or has been a complying superannuation fund within the meaning of section 45 of the Superannuation Industry (Supervision) Act 1993 in relation to any tax year; or
  • an Australian superannuation fund (within the meaning of the Income Tax Assessment Act 1997) that is not a complying superannuation fund mentioned in paragraph (a) in relation to any tax year; or
  • a scheme for the payment of benefits upon retirement or death that is constituted by or under a law of the Commonwealth or of a State or Territory; or
  • an RSA within the meaning of the Retirement Savings Accounts Act 1997; or
  • any of the following funds (unless the fund is a foreign superannuation fund):
  • a fund to which paragraph 23(jaa), or section 23FC, 121CC or 121DAB, of the Income Tax Assessment Act 1936 (as in force at any time before the commencement of section 1 of the Taxation Laws Amendment Act (No. 2) 1989) has applied in relation to any tax year;
  • a fund to which paragraph 23(ja), or section 23F or 23FB, of the Income Tax Assessment Act 1936 (as in force at any time before the commencement of paragraph (a) of the definition of superannuation fund in former subsection 27A(1) of the Income Tax Assessment Act 1936) has applied in relation to the tax year that started on 1 July 1985 or an earlier tax year;
  • a fund to which section 79 of the Income Tax Assessment Act 1936 (as in force at any time before 25 June 1984) has applied in relation to the tax year that started on 1 July 1983 or an earlier tax year.