Document ID: chunk:federal_register_of_legislation:C2004A04148:body:0:p51
Version: federal_register_of_legislation:C2004A04148
Segment Type: other
Provision Reference: 
Character Range: 150127–153356

44 (Service Pension Rate Calculator for Widows and Non-illness Separated Wives—point 44-D4):

   Add at the end:

 "Note: this amount is indexed annually in line with CPI increases (see sections 59b to 59e).".

Section 44 (Service Pension Rate Calculator for Widows and Non-illness Separated Wives—point 44-F3—Table F-l):

   Omit the Table, substitute:

"  TABLE F-l
   ASSETS VALUE LIMIT
   column 1                   column 2                                                 column 3
   item                       person's family situation                                assets value limit
   column 3a either person    column 3b neither person nor partner property owner
   or partner property owner
    1.                        Not member of a couple                                      $110,750         $190,250
    2.                        Partnered (partner getting neither pension nor benefit)     $78,750          $118,500
    3.                        Partnered (partner getting pension or benefit)              $78,750          $118,500

    Note 1: for 'member of a couple', 'partnered (partner getting neither pension nor benefit)' and 'partnered (partner getting pension or benefit)' see section 5e.
Note 2: for 'property owner' see section 5L.
Note 3: the assets value limits are indexed annually in line with CPI increases (see sections 59b to 59e).".

Subsection 46b (2):

  Omit "section 5h", substitute "subsection 5j (1)".

Section 48:

  Add at the end:

"(2) For the purposes of subsection (1), the value of any right or interest of the person of a kind referred to in paragraph 52 (1) (fa) is taken not to be consideration received by the person.".

SCHEDULE 5—continued

After subsection 52 (1):

  Insert:

'Note: for 'principal home' and other assets test definitions see section 5l.".

After paragraph 52 (1) (f):

  Insert:

  "(fa) if the person:

          (i) has a right to accommodation for life, or a life interest, in a private residence that is the principal home of the person; and

         (ii) acquired or retained that right or life interest for valuable consideration;

     the value of that right or interest;".

Section 52e:

  Add at the end:

"(2) For the purposes of subsection (1), the value of any right or interest of the person of a kind referred to in paragraph 52 (1) (fa) is taken not to be consideration received by the person.".

Section 52n:

  Add at the end:

"(4) In this section, 'pension "single" property owner AVL', 'pension "single" non-property owner AVL', 'pension "partnered" property owner AVL' and 'pension "partnered" non-property owner AVL' have the same meaning as in Division 21.".

Paragraph 52p (a):

  Omit "or", substitute "for".

Subparagraph 52s (5) (e) (iii):

  Omit "sections 52", substitute "subsection 52 (1)".

Paragraph 52s (5) (g):

  Omit "$92,250", substitute "$98,625".

Subsection 52s (5) (Note):

  Add at the end "(see section 59j)".

Paragraph 52t (3) (e):

  Omit "$92,250", substitute "$98,625".

Subsection 52t (3) (Note):

  Add at the end "(see section 59j)".

SCHEDULE 5—continued

Paragraph 52u (2) (e):

  Omit "$92,250", substitute "$98,625".

Subsection 52u (2) (Note):

  Add at the end "(see section 59j)".

Section