Commonwealth Consolidated Acts

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SOCIAL SECURITY ACT 1991 - SECT 612

Value of assets of members of couples

             (1)  If:

                     (a)  a person is a member of a couple; and

                     (b)  the person's partner:

                              (i)  is not in receipt of a social security or service pension, income support supplement or a veteran payment; and

                             (ii)  is not in receipt of a social security benefit;

the value of the person's assets, or of assets of a particular kind of the person, includes the value of the partner's assets or of assets of that kind of the partner.

Note:          For social security pension see subsection 23(1).

             (2)  If:

                     (a)  a person is a member of a couple; and

                     (b)  the person's partner is in receipt of:

                              (i)  a social security or service pension, income support supplement or a veteran payment; or

                             (ii)  a social security benefit;

the value of:

                     (c)  the person's assets is taken to be 50% of the sum of the value of the assets of the person and the value of the assets of the person's partner; and

                     (d)  the person's assets of a particular kind are taken to be 50% of the sum of the value of the assets of that kind of the person and the value of the assets of that kind of the person's partner.



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