Document ID: chunk:federal_register_of_legislation:C2025C00122:section:7:p42
Version: federal_register_of_legislation:C2025C00122
Segment Type: section
Provision Reference: s 7 (pt 42/61)
Character Range: 285852–288326

recipient is the sum of:
 (a) the amount worked out by applying point 1064‑B1 of Pension Rate Calculator A at the end of section 1064 of the Social Security Act 1991; and
 (b) the amount worked out under point 1064‑BA4 of Pension Rate Calculator A at the end of section 1064 of the Social Security Act 1991; and
 (c) the amount worked out by applying point 1064‑E4 of Pension Rate Calculator A at the end of section 1064 of the Social Security Act 1991.

44‑26A  The value of a person's assets
 (1) Subject to this section, the value of a person's assets for the purposes of section 44‑22 is to be worked out in accordance with the Subsidy Principles.
 (2) If a person who is receiving a *service pension, an *income support supplement or a *veteran payment has an income stream (within the meaning of the Veterans' Entitlements Act 1986) that was purchased on or after 20 September 2007, the value of the person's assets:
 (a) is taken to include the amount that the Secretary determines to be the value of that income stream that would be included in the value of the person's assets if Subdivision A of Division 11 of Part IIIB of the Veterans' Entitlements Act 1986 applied for the purposes of this Act; and
 (b) is taken to exclude the amount that the Secretary determines to be the value of that income stream that would not be included in the value of the person's assets if Subdivision A of Division 11 of Part IIIB of the Veterans' Entitlements Act 1986 applied for the purposes of this Act.
 (3) If a person who is not receiving a *service pension, an *income support supplement or a *veteran payment has an income stream (within the meaning of the Social Security Act 1991) that was purchased on or after 20 September 2007, the value of the person's assets:
 (a) is taken to include the amount that the Secretary determines to be the value of that income stream that would be included in the value of the person's assets if Division 1 of Part 3.12 of the Social Security Act 1991 applied for the purposes of this Act; and
 (b) is taken to exclude the amount that the Secretary determines to be the value of that income stream that would not be included in the value of the person's assets if Division 1 of Part 3.12 of the Social Security Act 1991 applied for the purposes of this Act.
 (4) The value of a person's assets is taken to include the amount that the Secretary determines to be the amount:
 (a) if the person is receiving a *service pension, an *income