Document ID: chunk:federal_register_of_legislation:C2007A00029:clause:3_31
Version: federal_register_of_legislation:C2007A00029
Segment Type: clause
Provision Reference: sch 3 cl 31
Character Range: 17928–20189

31  Application of amendments

(1) The amendments made by items 5, 6, 11, 23 to 27 and 30 apply in working out the annual rate of ordinary income of a person from an income stream after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.

(2) The amendments made by items 7 to 10 and 20 to 22 apply in working out if an income stream is:
 (a) a family law affected income stream; or
 (b) an original family law affected income stream; or
 (c) a primary FLA income stream; or
 (d) a secondary FLA income stream;
after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.

(3) The amendment made by item 12 applies to income streams purchased, or acquired, by or for the primary beneficiary or primary beneficiaries after the commencement of this item.

(4) The amendments made by items 13 and 14 apply in working out if an income stream is covered by section 5JA of the Veterans' Entitlements Act 1986 after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.

(5) Subject to subitem (6), the amendments made by items 15 to 19 apply in working out if an income stream is covered by section 5JB of the Veterans' Entitlements Act 1986 after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.

(6) Paragraph 5JB(2F)(b) of the Veterans' Entitlements Act 1986 applies to income streams purchased, or acquired, by or for the primary beneficiary or primary beneficiaries on or after 1 January 2006.

(7) The amendments made by items 28 and 29 apply in working out the value of an income stream after the commencement of this item, whether the income stream was purchased, or acquired, by or for the primary beneficiary or primary beneficiaries before, at or after the commencement of this item.