Document ID: chunk:federal_register_of_legislation:C2018A00087:clause:1_34
Version: federal_register_of_legislation:C2018A00087
Segment Type: clause
Provision Reference: sch 1 cl 34
Character Range: 2125–3037

34  Farm assets value limit
 (1) Farm household allowance is not payable to a person if the value of the person's farm assets exceeds the farm assets value limit.
 (2) Subject to this section, the limit is $2.6375 million.
Note: This limit is indexed annually each 1 July under Part 3.16 of the Social Security Act, because of Part 5 of this Act.
 (3) The farm assets value limit is $5 million for the period starting on the day prescribed by the Minister's rules and ending on 30 June 2019.
 (4) If farm household allowance is payable to a person for one or more days in the period referred to in subsection (3), the farm assets value limit of $5 million continues to apply after that period in respect of a claim for the allowance made by the person before 1 July 2019.
Note: The $5 million limit, as it continues to apply because of subsection (4), is not indexed under Part 3.16 of the Social Security Act.