Document ID: chunk:federal_register_of_legislation:C2004A04996:front:0:p38
Version: federal_register_of_legislation:C2004A04996
Segment Type: other
Provision Reference: 
Character Range: 98999–101713

worth for the destruction, disposal or diminution;

     (iii) the Commission is satisfied that the person's purpose, or dominant purpose, in engaging in that course of conduct was to enable another person who provides care for the person to obtain a carer service pension or an income support supplement.

"(2) If, under subsection 52M(1A), the value of the person's granny flat interest is less than the amount paid, or agreed to be paid, for the interest, then, for the purposes of this section, so much of the amount paid, or agreed to be paid, as exceeds the value of the interest is not consideration for the interest.

Note: For granny flat interest see section 5MA.

Amount of disposition—care receiver assets test

"53AG. If a person disposes of assets, the amount of the disposition is:

    (a) if the person receives no consideration for the destruction, disposal or diminution—an amount equal to:

      (i) the value of the assets that are destroyed; or

     (ii) the value of the assets that are disposed of; or

     (iii) the amount of the diminution in the value of the assets whose value is diminished; or

    (b) if the person receives consideration for the destruction, disposal or diminution—an amount equal to:

      (i) the value of the assets that are destroyed; or

SCHEDULE 6—continued

     (ii) the value of the assets that are disposed of; or

     (iii) the amount of the diminution in the value of the assets whose value is diminished;

     less the amount of the consideration received by the person in respect of the destruction, disposal or diminution.

Disposal of assets in pre-pension years—individual care receivers

"53AH.(1) This section applies in determining whether a person (the carer) is eligible for a carer service pension or an income support supplement when claiming it for caring for a care receiver who is not a member of a couple when the claim is made.

"(2) If:

    (a) the care receiver has disposed of an asset of the care receiver during a pre-pension year of the carer; and

    (b) the amount of the disposition, or the sum of that amount and of the amounts (if any) of the dispositions of assets previously made by the care receiver during the pre-pension year, exceeds $10,000;

the lesser of the following amounts is to be included in the value of the care receiver's assets for the period of 5 years that starts on the day on which the disposition took place:

    (c) the amount of the first-mentioned disposition;

    (d) the amount by which the sum of the amount of the first-mentioned disposition of assets and of the amounts (if any) of other dispositions of assets previously made by the care receiver during the pre-pension year exceeds