Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

SOCIAL SECURITY ACT 1991 - SECT 408CE

Assets test--allowance not payable if assets value limit exceeded

             (1)  Widow allowance is not payable to a woman if the value of her assets exceeds her assets value limit.

             (2)  A woman's assets value limit is worked out using the following Table:

Assets value limit table

Column 1

Item

Column 2

Woman's situation

Column 3

Assets value limit

1

Woman is a homeowner

$250,000

2

Woman is not a homeowner

$450,000

Note 1:       For homeowner see section 11.

Note 2:       The assets value limit in column 3 of item 1 is indexed annually in line with CPI increases (see sections 1190 to 1194).

Note 3:       The assets value limit in column 3 of item 2 is adjusted annually (see subsection 1204(1)).

Note 4:       If widow allowance is not payable to a woman because of the value of the her assets, she may be able to take advantage of provisions dealing with financial hardship (see sections 1131 and 1132).



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback