Document ID: chunk:federal_register_of_legislation:C2024C00866:section:5l:p3
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 5L (pt 3/4)
Character Range: 160130–162685

interest in the person's principal home; and
 (ii) the person's right or interest in the home gives the person reasonable security of tenure in the home; and
 (b) a person who is a member of a couple is a property owner if:
 (i) the person, or the person's partner, has a right or interest in one residence that is:
 (A) the person's principal home; or
 (B) the partner's principal home; or
 (C) the principal home of both of them; and
 (ii) the person's right or interest, or the partner's right or interest, in the home gives the person, or the person's partner, reasonable security of tenure in the home; and
 (c) a person (whether a member of a couple or not) is a property owner while:
 (i) the whole or a part of the proceeds of the sale of the person's principal home are disregarded under subsection 52(2); or
 (ii) the value of a residence, land or a structure is disregarded under subsection 52(2).
Note: See also sections 52KA–52X (special residences).

Pension year—disposal of assets
 (9) A reference in sections 52E to 52J (disposal of assets) to a pension year, in relation to a person who is receiving a service pension, income support supplement, a veteran payment or a social security pension is a reference to:
 (a) if the person is a member of a couple and the person and the person's partner were, immediately before they became members of that couple, receiving a service pension, income support supplement, a veteran payment or a social security pension—the period of 12 months commencing on the day on which they became members of that couple; or
 (b) in a case (not being a case referred to in paragraph (a)) where the person is a member of a couple and the person's partner is receiving a service pension, income support supplement, a veteran payment or a social security pension—the period of 12 months commencing on the day on which a service pension, income support supplement, a veteran payment or a social security pension first became payable to the person or to the person's partner, whichever was the earlier; or
 (c) in any other case—the period of 12 months commencing on the day on which a service pension, income support supplement, a veteran payment or a social security pension first became payable;
and to each succeeding and each preceding period of 12 months.

No pension year to extend beyond 30 June 2002
 (9A) No period after 30 June 2002 is, or is a part of, a pension year of a person. If, apart from this subsection, a period beginning before 1 July 2002 and ending on or after that date would be a pension