Commonwealth Consolidated Acts

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Special residence and residents definitions

             (1)  In this Act, unless the contrary intention appears:

"special residence" has the meaning given by subsection (2).

"special resident" has the meaning given by subsection (3).

             (2)  A residence is a special residence if the residence is:

                     (a)  in a retirement village; or

                     (b)  a granny flat; or

                     (c)  a sale leaseback home.

             (3)  A person is a special resident if the person is:

                     (a)  a retirement village resident; or

                     (b)  a granny flat resident; or

                     (c)  a sale leaseback resident.

             (4)  In Division 5 of Part 3.12 (sections 1145A to 1157), a reference to the actual value of the assets of a member of a couple is a reference to the value of the assets that are actually assets of the person rather than the person's partner, that is, the value that would be the value of the person's assets apart from the couple's assets deeming provisions.

             (5)  In subsection (4):

"couple's assets deeming provisions" means:

                     (a)  Pension Rate Calculator A (point 1064-G2); and

                   (ba)  subsections 500Q(4) and (5); and

                    (ca)  section 660YCK; and

                     (d)  section 612; and

                     (e)  section 681; and

                      (f)  subsection 895(2); and

                     (g)  section 734.

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