Document ID: chunk:federal_register_of_legislation:C2025C00162:section:598:p1
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 598 (pt 1/4)
Character Range: 936916–939522

598  Liquid assets test waiting period
 (1) Subject to subsections (4A), (5), (6), (7), (8) and (8B), if:
 (a) the value of a person's liquid assets exceeds the person's maximum reserve on:
 (i) if subparagraph 593(1)(a)(ii) does not apply in relation to the person—the day following the day on which the person ceased work or ceased to be enrolled in a full time course of education or of vocational training; or
 (ia) if subparagraph 593(1)(a)(ii) applies in relation to the person—the day on which the person becomes incapacitated for work or study; or
 (ii) in any case—the day on which the person claims a jobseeker payment; and
 (b) the person is not a transferee to a jobseeker payment;
the person is not qualified for a jobseeker payment for a period unless the person has served the liquid assets test waiting period in relation to the claim before the beginning of that period.
Note 1: For liquid assets see section 14A.
Note 2: For maximum reserve see section 14A.
Note 3: For served the waiting period in relation to a liquid assets test waiting period, see subsection 23(10A).
 (2) The liquid assets test waiting period in relation to the claim is to be worked out under subsections (2A), (2B) and (2C).
 (2A) Work out the number of formula weeks (disregarding any fractions of a week) in relation to the claim using the formula:
where:
liquid assets means the person's liquid assets.
maximum reserve amount means the maximum reserve in relation to the person under subsection 14A(1).
divisor means, in relation to a person:
 (a) if the person is not a member of a couple and does not have a dependent child—$500; or
 (b) otherwise—$1,000.
 (2B) If the number of formula weeks is equal to or greater than 13 weeks, the liquid assets test waiting period in relation to the claim is 13 weeks.
 (2C) If subsection (2B) does not apply, the liquid assets test waiting period in relation to the claim is the number of weeks equal to the number of formula weeks.
 (3) If the person is not a member of a couple, the liquid assets test waiting period in relation to the claim starts on:
 (a) if subparagraph 593(1)(a)(ii) does not apply in relation to the person—subject to subsection (3AA), the day following the day on which the person ceased work or ceased to be enrolled in a full time course of education or of vocational training; or
 (b) if subparagraph 593(1)(a)(ii) applies in relation to the person—subject to subsection (4), the day on which the person became incapacitated for work or study.
 (3AA) If subparagraph 593(1)(a)(ii) does not apply in relation to the person and the person:
 (a)