Document ID: chunk:federal_register_of_legislation:C2004A04993:body:0:p42
Version: federal_register_of_legislation:C2004A04993
Segment Type: other
Provision Reference: 
Character Range: 106196–108852

or

(iii) the amount of the diminution in the value of the assets whose value is diminished; or

    (b) if the person receives consideration for the destruction, disposal or diminution—an amount equal to:

(i) the value of the assets that are destroyed; or

(ii) the value of the assets that are disposed of; or

(iii) the amount of the diminution in the value of the assets whose value is diminished;

    less the amount of the consideration received by the person in respect of the destruction, disposal or diminution.

SCHEDULE 10—continued

Disposal of assets in pre-pension years—individual care receivers

"198H.(1) This section applies in determining whether a person (the carer) qualifies for a carer pension when claiming it for caring for a care receiver who is not a member of a couple when the claim is made.

"(2) If:

    (a) the care receiver has disposed of an asset of the care receiver during a pre-pension year of the carer; and

    (b) the amount of that disposition, or the sum of that amount and of the amounts (if any) of other dispositions of assets previously made by the care receiver during that pre-pension year, exceeds $10,000;

the lesser of the following amounts is to be included in the value of the care receiver's assets for the period of 5 years that starts on the day on which the disposition took place:

    (a) the amount of the first-mentioned disposition;

    (b) the amount by which the sum of the amount of the first-mentioned disposition of assets and of the amounts (if any) of other dispositions of assets previously made by the care receiver during that pre-pension year exceeds $10,000.

Note 1: For disposes of assets see section 198F.

Note 2: For amount of disposition see section 198G.

"(3) In this section:

pre-pension year, in relation to a carer, means:

(a) the 12 months ending on the carer's provisional commencement day for carer pension; or

(b) any preceding period of 12 months.

Disposal of assets—individual care receivers

"198J.(1) This section applies in determining whether a person (the carer) who has been receiving a carer pension for caring for a care receiver who is not a member of a couple continues to qualify for the pension.

"(2) If:

    (a) the care receiver has disposed of an asset of the care receiver during a pension year of the carer; and

    (b) the amount of that disposition, or the sum of that amount and of the amounts (if any) of other dispositions of assets previously made by the care receiver during that pension year, exceeds $10,000;

the lesser of the following amounts is to be included in the value of the care receiver's assets for the period of