Document ID: chunk:federal_register_of_legislation:C2025C00162:section:1152:p2
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 1152 (pt 2/2)
Character Range: 2282486–2283738

for the purposes of the application of this Act to the resident and to the partner:
 (d) the resident is to be taken to be a homeowner;
 (e) for the purposes of this Act:
 (i) both the resident, and the partner, are to be taken not to have a right or interest in relation to the partner's principal home; and
 (ii) the partner's assets are to be taken to include an asset whose value is equal to the amount of the partner's entry contribution; and
 (iii) sections 198K and 198L, subsection 1118(1) and section 1126 do not apply to the asset that the partner is, because of subparagraph (ii) of this paragraph, to be taken to have;
 (f) any right or interest of the partner in the resident's principal home is to be disregarded in calculating the actual value of the partner's assets for the purposes of this Act;
 (g) the resident's assets value limit and the partner's assets value limit are both to be taken to be $237,500.
Note: The amount in paragraph (g) is adjusted annually: see section 1205.
 (6) Subsection (5) applies:
 (a) whether or not the resident's partner actually has any right or interest in the partner's principal home; and
 (b) whatever the value of any right or interest that the partner does have in the partner's principal home.