Document ID: chunk:federal_register_of_legislation:C2004A00998:clause:1_198la:p1
Version: federal_register_of_legislation:C2004A00998
Segment Type: clause
Provision Reference: sch 1 cl 198LA (pt 1/2)
Character Range: 16477–19031

198LA  Disposal of assets in income year—members of couples including higher ADAT score adults

Application

 (1) This section has effect in determining whether a person (the carer) who has been receiving a carer payment for caring for a care receiver who is a higher ADAT score adult and is a member of a couple continues to qualify for the payment.

Disposals to which section applies

 (2) This section applies to a disposal (the relevant disposal) on or after 1 July 2002 of an asset by the care receiver, the care receiver's partner, or the care receiver and the care receiver's partner.

Increase in value of assets

 (3) If the amount of the relevant disposal, or the sum of that amount and the amounts (if any) of other disposals of assets previously made by the care receiver, the care receiver's partner, or the care receiver and the care receiver's partner (whether before or after they became members of the couple), during the income year in which the relevant disposal took place, exceeds $10,000, then, for the purposes of this Act, the lesser of the following amounts is to be included in the value of the assets of the care receiver and in the value of the assets of the partner for the period of 5 years starting on the day on which the relevant disposal took place:
 (a) one‑half of the amount of the relevant disposal;
 (b) one‑half of the amount by which the sum of the amount of the relevant disposal and the amounts (if any) of other disposals of assets previously made by the care receiver, the partner, or the care receiver and the partner, during the income year in which the relevant disposal took place, exceeds $10,000.

Effect of ceasing to be a member of couple after disposal by care receiver

 (4) If:
 (a) the relevant disposal is the disposal of an asset by the care receiver; and
 (b) after the relevant disposal, the care receiver and the care receiver's partner cease to be members of the same couple (either because the partner dies or for another reason);
the amount that was included in the value of the assets of the partner because of the relevant disposal is to be included in the value of the assets of the care receiver.

Effect of ceasing to be a member of couple after disposal by care receiver's partner

 (5) If:
 (a) the relevant disposal is the disposal of an asset by the care receiver's partner; and
 (b) after the relevant disposal, the care receiver and the partner cease to be members of the same couple (either because the partner dies or for another reason);
the amount that was included in