Document ID: chunk:federal_register_of_legislation:C2025C00162:section:14a:p1
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 14A (pt 1/3)
Character Range: 232242–234827

14A  Social security benefit liquid assets test definitions
 (1) For the purposes of Parts 2.11, 2.11A, 2.12 and 2.23A and Division 3A of Part 3 of the Administration Act:
liquid assets, in relation to a person, means the person's cash and readily realisable assets, and includes:
 (a) the person's shares and debentures in a public company within the meaning of the Corporations Act 2001; and
 (b) amounts deposited with, or lent to, a bank or other financial institution by the person (whether or not the amount can be withdrawn or repaid immediately); and
 (c) amounts due, and able to be paid, to the person by, or on behalf of, a former employer of the person;
but does not include:
 (d) a roll‑over superannuation benefit (within the meaning of the Income Tax Assessment Act 1997); or
 (daa) a superannuation lump sum (within the meaning of that Act) that is a contributions‑splitting superannuation benefit (within the meaning of that Act); or
 (dac) the surrender value of a life policy (within the meaning of the Life Insurance Act 1995); or
 (da) an amount of an AGDRP that the person received, if the Secretary is satisfied that the length of time since receiving the payment is still reasonable in the circumstances; or
 (db) an amount of an AVTOP that the person received, if the Secretary is satisfied that the length of time since receiving the payment is still reasonable in the circumstances; or
 (dc) the sum of NDIS amounts paid to the person and any return on those amounts that the person earns, derives or receives, less the sum of amounts spent by the person in accordance with an NDIS plan under which the amounts were paid; or
 (e) in the case of a person who:
 (i) has claimed or is receiving a youth allowance or an austudy payment; and
 (ii) is undertaking a tertiary course of education in any year or part of a year;
  an amount necessary to cover the reasonable expenses incurred, or likely to be incurred, by the person in that year or that part of a year and that are directly related to his or her undertaking the course, including:
 (iii) up front course fees; and
 (iv) HECS payments; and
 (v) union fees; and
 (vi) costs of text books; and
 (vii) costs of any tools or equipment required to undertake the course, including computer software; and
 (viii) expenses directly related to any field trips undertaken for the purposes of the course; and
 (ix) such other expenses as are approved by the Secretary.
maximum reserve, in relation to a person, means:
 (a) if the person is not a member of a couple and does not have a dependent child—$5,000; or