Document ID: chunk:federal_register_of_legislation:C2023C00380:clause:1_573b
Version: federal_register_of_legislation:C2023C00380
Segment Type: clause
Provision Reference: sch 1 cl 573B
Character Range: 34684–35681

573B  Assets value limit
 (1) A person's assets value limit is:
 (a) $125,750 if the person:
 (i) is not a member of a couple (see section 4); and
 (ii) is a homeowner; or
 (b) $215,750 if the person:
 (i) is not a member of a couple; and
 (ii) is not a homeowner; or
 (c) $178,500 if the person:
 (i) is a member of a couple; and
 (ii) is a homeowner; or
 (d) $268,500 if the person:
 (i) is a member of a couple; and
 (ii) is not a homeowner.
Note 1: For homeowner see subsection 11(4).
Note 2: The amounts in this section are indexed annually on 1 July (see sections 1191 to 1194).
 (2) If the Secretary determines in writing a higher amount in substitution for an amount specified in subsection (1) (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 (3) Subsection (2) and this subsection are repealed at the end of 31 December 1998.