Document ID: chunk:federal_register_of_legislation:C2004A04148:body:0:p25
Version: federal_register_of_legislation:C2004A04148
Segment Type: other
Provision Reference: 
Character Range: 73238–76306

(1) (d):

Insert "or granny flat" after "retirement village" (wherever occurring).

Paragraph 52m (1) (e):

Insert "or granny flat" after "retirement village" (wherever occurring).

Paragraph 52m (1) (f):

Insert "or granny flat" after "retirement village" (wherever occurring).

After subsection 52m (1):

  Insert:

  "(1a) For the purposes of subsection (1):

    (a)     the total amount paid to obtain for a person his or her current right to live in a granny flat is the amount equal to the value of the person's granny flat interest; and

  (b)    the value of a person's granny flat interest is:

         (i) unless subparagraph (ii) applies—the amount paid, or agreed to be paid, for the interest; or

         (ii) if the Secretary considers that, for any special reason in any particular case, that value should be another amount—that other amount.".

After subsection 52n (2):

  Insert:

SCHEDULE 2—continued

Granny flat residence

  "(2a) A granny flat resident's extra allowable amount is:

    (a)     if the resident is not a member of a couple—the amount that, as at the time when the resident becomes entitled to the granny flat interest, is the difference between the pension 'single' property owner AVL and the pension 'single' non-property owner AVL; or

    (b)    if the resident is a member of an illness separated couple—the amount that, as at the time when the resident becomes entitled to the granny flat interest, is the difference between the pension 'single' property owner AVL and the pension 'single' non-property owner AVL; or

    (c)     in any other case—the amount that, as at the time when the resident becomes entitled to the granny flat interest, is the difference between the pension 'partnered' property owner AVL and the pension 'partnered' non-property owner AVL.".

Subsection 52q (1):

  Insert "or granny flat" after "retirement village".

Paragraph 52q (2) (a):

  Insert "or granny flat resident" after "retirement village".

Paragraph 52q (3) (a):

  Insert "or granny flat" after "retirement village".

Subsection 52r (1):

  Insert "or granny flat" after "retirement village".

Paragraph 52r (2) (a):

  Insert "or granny flat" after "retirement village".

Paragraph 52r (3) (a):

  Insert "or granny flat" after "retirement village".

Subsection 52s (1):

  Insert "or granny flat" after "retirement village" (first occurring).

Paragraph 52s (1) (b):

  Insert "or granny flat" after "retirement village".

Paragraph 52s (2) (a):

  Insert "or granny flat" after "retirement village".

SCHEDULE 2—continued

Paragraph 52s (3) (a):

  Insert "or granny flat" after "retirement village".

Paragraph 52s (5) (a):

  Insert "or granny flat" after "retirement village".

Subsection 52t (1):

  Insert "or granny flat" after "retirement village" (first occurring).

Paragraph 52t (1) (b):

  Insert "or granny flat" after "retirement village".

Paragraph 52t (2) (a):

  Insert "or granny flat" after "retirement village".

Paragraph 52t (3) (a):

  Insert "or granny flat" after "retirement village".

Subsection 52u