1.1.E.160 Exchange trading system

Usage

This definition applies to all income support payments under the SSAct.

Definition

An exchange trading system is a scheme in which members:

  • barter their services for consideration other than cash, or
  • receive credits for services performed for other members.

The Secretary may class an ETS as an 'approved scheme' where the scheme meets criteria stated in the SSAct that:

  • it is a local community-based system, and
  • its primary purpose is to help persons maintain their labour skills and keep them in touch with the labour market, and
  • it is not a system run by a person or organisation for profit.

Act reference: SSAct section 8(9) An exchange trading system…, section 8(10) An exchange trading system is an approved exchange trading system…

Policy reference: SS Guide 4.3.2.31 Income Exempt from Assessment - Specifically Approved

Last reviewed: 3 January 2017