Document ID: chunk:federal_register_of_legislation:C2024C00866:section:52:p5
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 52 (pt 5/7)
Character Range: 721238–723803

beginning when the payments are received; and
 (b) ending at the earlier of the following times:
 (i) 12 months, or such longer period as the Commission determines for any special reason, after that time;
 (ii) when the building, rebuilding, repair or renovation of the building or plant is complete.

NDIS amounts
 (1DAA) For the purposes of paragraph (1)(oaa), the amount that may be disregarded is the value of the sum of:
 (a) the NDIS amounts received by the person; and
 (b) any return on those amounts that the person earns, derives or receives;
less the sum of the amounts spent by the person in accordance with an NDIS plan (whether in the person's capacity as an NDIS participant or as a person managing the funding under an NDIS plan for an NDIS participant).

Native title rights and interests
 (1DA) In this section:
native title rights and interests means:
 (a) native title rights and interests within the meaning of section 223 of the Native Title Act 1993; or
 (b) any rights and interests of a similar nature under any law of a State, a Territory or a foreign country (whether or not the rights and interests relate to land or waters outside Australia);
but, to avoid any doubt, does not include any right or interest in a lease or licence, or in a freehold estate.

Application of proceeds of sale of principal home
 (1E) Subsection (2) applies if:
 (a) a person sells the person's principal home; and
 (b) either:
 (i) the person does not have a right or interest in a principal home; or
 (ii) the person has a right or interest in a principal home that does not give the person reasonable security of tenure in the home; and
 (c) before the end of 24 months, or any longer period determined under subsection (2A), after the sale, one or more of the following applies:
 (i) the person intends to apply the whole or a part of the proceeds of the sale to build, rebuild, repair or renovate another residence that is to be the person's principal home;
 (ii) the person applies the whole or a part of the proceeds of the sale to build, rebuild, repair or renovate another residence that is to be the person's principal home;
 (iii) the person intends to apply the whole or a part of the proceeds of the sale to purchase another residence that is to be the person's principal home.
 (2) For the purposes of this Part (other than Subdivision B of this Division and Division 3):
 (a) if subparagraph (1E)(c)(i) applies—disregard the proceeds, to the extent that the person intends to apply those proceeds to build, rebuild, repair or renovate the other