Document ID: chunk:federal_register_of_legislation:C2004A04993:body:0:p41
Version: federal_register_of_legislation:C2004A04993
Segment Type: other
Provision Reference: 
Character Range: 103670–106435

purposes of subsection (1), that subsection has effect from its commencement as if it specified the larger amount.

Limit on determination

"(3) The Secretary must not make a determination specifying an amount more than the amount taken to be specified by paragraph 838(1)(d) (the assets value limit for family payment) on 1 January 1996 after indexation.

Determination is disallowable

"(4) A determination under subsection (2) is a disallowable instrument.

Working out the value of assets

"198E. For the purposes of subsection 198D(1), the value of assets is to be worked out in accordance with:

(a) Part 3.12, except Divisions 2, 3 and 4 of that Part; and

(b) sections 198F to 198M (inclusive).

   Note: Sections 198F to 198M (inclusive) make special provision for the assets test for care receivers in relation to subjects covered more generally by Division 2 of Part 3.12.

SCHEDULE 10—continued

Disposal of assets—care receiver assets test

"198F.(1) For the purposes of this Division, a person disposes of assets of the person if:

(a) the person engages in a course of conduct that directly or indirectly:

(i) destroys all or some of the person's assets; or

(ii) disposes of all or some of the person's assets; or

(iii) diminishes the value of all or some of the person's assets; and

(b) one of the following subparagraphs is satisfied:

       (i) the person receives no consideration in money or money's worth for the destruction, disposal or diminution;

       (ii) the person receives inadequate consideration in money or money's worth for the destruction, disposal or diminution;

       (iii) the Secretary is satisfied that the person's purpose, or dominant purpose, in engaging in that course of conduct was to enable another person who provides care for the person to obtain a carer pension.

"(2) If, under subsection 1147(1A), the value of a granny flat interest is less than the amount paid, or agreed to be paid, for the interest, then, for the purposes of this section, so much of the amount paid, or agreed to be paid, as exceeds the value of the interest is not consideration for the interest.

Note: For granny flat interest see subsection 12A(2).

Amount of disposition—care receiver assets test

"198G. If a person disposes of assets, the amount of the disposition is:

    (a) if the person receives no 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; or

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

(i) the value of the assets that