Document ID: chunk:federal_register_of_legislation:C2023C00380:clause:2_547c
Version: federal_register_of_legislation:C2023C00380
Segment Type: clause
Provision Reference: sch 2 cl 547C
Character Range: 162661–163942

547C  Assets value limit
 (1) A person's assets value limit is:
 (a) $407,250 if the person is not independent (see section 1067A); or
 (b) $125,750 if the person:
 (i) is independent; and
 (ii) is not a member of a couple (see section 4); and
 (iii) is a homeowner; or
 (c) $215,750 if the person:
 (i) is independent; and
 (ii) is not a member of a couple; and
 (iii) is not a homeowner; or
 (d) $178,500 if the person:
 (i) is independent; and
 (ii) is a member of a couple; and
 (iii) is a homeowner; or
 (e) $268,500 if the person:
 (i) is independent; and
 (ii) is a member of a couple; and
 (iii) is not a homeowner.
Note 1: For homeowner see subsection 11(4).
Note 2: The amount in paragraph (a) is indexed annually on 1 January and the amounts in paragraphs (b), (c), (d) and (e) are indexed annually on 1 July (see sections 1191 to 1194).
 (2) If the Secretary determines in writing a higher amount in substitution for the amount specified in paragraph (1)(b), (c), (d) or (e) (the existing amount), the higher amount is taken, from the commencement of this section, to have been substituted for the existing amount. A determination under this subsection is a disallowable instrument.
 (3) Subsection (2) and this subsection are repealed at the end of 31 December 1998.