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SOCIAL SECURITY ACT 1991 - SECT 198LB

Disposal of assets in 5 year period--members of couples including higher ADAT score adults

Application

             (1)  This section also has effect in determining whether a person (the carer ) who has been receiving a carer payment for caring for a care receiver who is a higher ADAT score adult and is a member of a couple continues to qualify for the payment.

Disposals to which section applies

             (2)  This section applies to a disposal (the relevant disposal ) on or after 1 July 2002 of an asset by the care receiver, the care receiver's partner, or the care receiver and the care receiver's partner.

Increase in value of assets

             (3)  If:

                     (a)  the sum of the amount of the relevant disposal and the amounts of any previous disposals during the rolling period of assets by the care receiver, the care receiver's partner, or the care receiver and the care receiver's partner;

less

                     (b)  the sum of any amounts included in the value of the assets of the care receiver or the partner during the rolling period under a provision of this Subdivision other than this section or under any previous application or applications of this section;

exceeds $30,000, then, for the purposes of this Act, an amount equal to one-half of the excess is to be included in the value of the assets of the care receiver and in the value of the assets of the partner for the period of 5 years starting on the day on which the relevant disposal took place.

Effect of ceasing to be member of couple after disposal by care receiver

             (4)  If:

                     (a)  the relevant disposal is a disposal of an asset by the care receiver; and

                     (b)  after the relevant disposal, the care receiver and the care receiver's partner cease to be members of the same couple (either because the partner dies or for another reason);

the amount that was included in the value of the assets of the partner because of the relevant disposal is to be included in the value of the assets of the care receiver.

Effect of ceasing to be member of couple after disposal by care receiver's partner

             (5)  If:

                     (a)  the relevant disposal is a disposal of an asset by the care receiver's partner; and

                     (b)  after the relevant disposal, the care receiver and the partner cease to be members of the same couple (either because the partner dies or for another reason);

the amount that was included in the value of the assets of the care receiver because of the relevant disposal is no longer to be included in the value of the assets of the care receiver.

Rolling period

             (6)  For the purposes of this section, the rolling period is the period comprising the income year in which the relevant disposal took place and such (if any) of the 4 previous income years as occurred after 30 June 2002.



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