Document ID: chunk:federal_register_of_legislation:C2025C00162:section:198n:p3
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 198N (pt 3/5)
Character Range: 620538–623141

care receiver, or the sum of the values of the liquid assets of the care receivers, is equal to or greater than the liquid assets limit; or
 (b) the amount of the accepted estimated taxable income of the care receiver, or the sum of the amounts of the accepted estimated taxable incomes of the care receivers, for the current financial year is equal to or more than the threshold amount worked out under subsection (6).
Note 1: The amounts specified in subsection (3) are indexed each year on 1 January (see sections 1190 and 1191).
Note 2: For calculating the value of assets and liquid assets, see paragraph (5)(a).
Note 3: For liquid assets see subsection 19B(1).
Note 4: For liquid assets limit see paragraph (5)(b).
Note 5: For accepted estimated taxable income see subsection 198B(5).

Failing assets test by large margin but passing special income test
 (4) The Secretary may decide that subparagraph 197B(4)(d)(i), 197C(4)(d)(i), 197D(4)(d)(i), 197E(5)(d)(i) or 198(5)(d)(i) does not disqualify the person from carer payment if:
 (a) the value of the assets of the care receiver, or the sum of the values of the assets of the care receivers, is more than $608,500; and
 (b) the value of the liquid assets of the care receiver, or the sum of the values of the liquid assets of the care receivers, is less than the liquid assets limit; and
 (c) the amount of the accepted estimated taxable income of the care receiver, or the sum of the amounts of the accepted estimated taxable incomes of the care receivers, for the current financial year is less than the threshold amount worked out under subsection (6).
Note 1: The amount specified in paragraph (4)(a) is indexed each year on 1 January (see sections 1190 and 1191).
Note 2: For calculating the value of assets and liquid assets, see paragraph (5)(a).
Note 3: For liquid assets see subsection 19B(1).
Note 4: For liquid assets limit see paragraph (5)(b).
Note 5: For accepted estimated taxable income see subsection 198B(5).

Definitions—assets and income
 (5) For the purposes of this section:
 (a) the value of the assets or liquid assets of a care receiver who is a higher ADAT score adult is the sum of the values of the assets or liquid assets (as the case requires) of the following people:
 (i) the care receiver;
 (ii) if the care receiver has a partner—the partner;
 (iii) if the care receiver or the care receiver's partner has one or more FTB children—those FTB children; and
 (aa) the value of the liquid assets of a care receiver who is a sole care child, combined care child or multiple care child is the sum of the values of the