Document ID: chunk:federal_register_of_legislation:C2004A04148:body:0:p14
Version: federal_register_of_legislation:C2004A04148
Segment Type: other
Provision Reference: 
Character Range: 45010–47855

is not deposit money of the person; and

    (c)     is not money to which Division 8b of Part III (income from loans) applies;

'deposit money', in relation to a person, means the person's money that is deposited in an account with a financial institution;".

After paragraph 5h (8) (o):

  Insert:

      "(oa) a payment by a State or Territory for the purpose of assisting people to purchase or build their own homes;".

Paragraph 5h (8) (w):

  Add at the end:

"or (ix) a widowed person allowance; or

   (x) a widow B pension;".

After paragraph 5h (8) (y):

  Insert:

      "(ya) a payment towards the cost of personal care support services for the person that is made under a scheme approved under section 35a of the Social Security Act;".

Subsection 5l (1):

  Insert:

  " 'granny flat interest' has the meaning given by subsection (8a);".

Subparagraph 5l (4) (a) (ii):

  Omit the subparagraph, substitute:

  "(ii) the person's right or interest in the home:

         (a) gives the person reasonable security of tenure in the home; and

         (b) is not a granny flat interest; and".

SCHEDULE 2—continued

Subparagraph 5l (4) (b) (ii):

  Omit the subparagraph, substitute:

     "(ii) the person's right or interest, or the partner's right or interest, in the home:

         (a) gives the person or the person's partner reasonable security of tenure in the home; and

         (b) is not a granny flat interest; and".

After subsection 5l (8):

  Insert:

Granny flat interest

"(8a) A person has a granny flat interest in the person's principal home if:

    (a)     the residence that is the person's principal home is a private residence; and

    (b)     the person has acquired for valuable consideration or has retained:

      (i) a right to accommodation for life in the residence; or

      (ii) a life interest in the residence.".

Paragraph 5l (7) (b):

  Omit the paragraph, substitute:

     "(b) any period (not exceeding 2 years) during which the person is residing in a nursing home; and

  (c) any period during which:

        (i) the person is residing in a nursing home; and

        (ii) the residence is, or because of paragraph (a) or (b) continues to be, the principal home of the person's partner or non-illness separated wife; and

  (d) where:

        (i) the person is residing in a nursing home; and

        (ii) while paragraph (c) applies, the person's partner or non-illness separated wife dies while a resident of a nursing home; and

         (iii) the person's partner or non-illness separated wife had resided in a nursing home for less than 2 years; the period of 2 years from the beginning of that residence; and

  (e) where:

      (i) the person is residing in a nursing home; and

         (ii) while paragraph (c) applies, the person's partner or non-illness separated wife dies