Source: http://clik.dva.gov.au/print/book/export/html/16411
Timestamp: 2019-09-23 13:07:09
Document Index: 385819938

Matched Legal Cases: ['art 10', 'art-10', 'art10', 'art10', 'art10', 'art-9', 'art10', 'art10', 'art-10', 'art10']

﻿ Valuation of Assets
Home > Compensation and Support Policy Library > Part 10 Types of Income and Assets > 10.2 Assets > 10.2.2 Determining the Value of an Asset > Valuation of Assets
Real estate is valued using the person's estimate of the market value [2], unless the:
person is paid under the assets test [2], or
the pension is assessed under the income test and the total value of the person's assets falls within $10,000 of the assets value limit [2].
a life interest [2] created by the person, the person's partner, or on the death of the person's partner (other than a life interest in their principal home [2]), or
a contingent interest [2], remainder interest [2], or reversionary interest [2] created by a person or acquired for valuable consideration [2].
9.2.2/Homeowner's Basic Assessment Rules [6]
Section 5L(2) [8] VEA
10.2.2/Assessing Assets where Beneficial Interest Arises [10]
Assets value limit is the maximum value of assets a person can have without affecting the person's pension rate. The assets value limit is worked out in accordance with SCH6-F3 of the VEA [13].
The principal home has the meaning given by subsection 5LA(1) [14] of the VEA and subsection 5LA(2) [14] of the VEA. The principal home of a person is generally the place in which they reside. In certain circumstances, however, the principal home of a person can be the place in which they formerly resided. The following property is regarded as part of the principal home.
Source URL (modified on 06/07/2015 - 12:38pm): http://clik.dva.gov.au/compensation-and-support-policy-library/part-10-types-income-and-assets/102-assets/1022-determining-value-asset/valuation-assets
[1] http://clik.dva.gov.au/user/login?destination=node/16411%23comment-form
[3] http://clik.dva.gov.au/node/16411/edit#tgt-cspol_part10_ftn226
[4] http://clik.dva.gov.au/node/16411/edit#tgt-cspol_part10_ftn227
[5] http://clik.dva.gov.au/node/16411/edit#tgt-cspol_part10_ftn228
[6] http://clik.dva.gov.au/compensation-and-support-policy-library/part-9-principles-determining-pension-rate/92-residential-situation/922-basic-principles-assessment/homeowners-basic-assessment-rules
[7] http://clik.dva.gov.au/node/16411/edit#ref-cspol_part10_ftn226
[9] http://clik.dva.gov.au/node/16411/edit#ref-cspol_part10_ftn227
[10] http://clik.dva.gov.au/compensation-and-support-policy-library/part-10-types-income-and-assets/102-assets/1022-determining-value-asset/assessing-assets-where-beneficial-interest-arises
[11] http://clik.dva.gov.au/node/16411/edit#ref-cspol_part10_ftn228