Document ID: chunk:federal_register_of_legislation:C2024A00104:section:330:p3
Version: federal_register_of_legislation:C2024A00104
Segment Type: section
Provision Reference: s 330 (pt 3/3)
Character Range: 541143–542999

is the value worked out after applying subsections (1), (12) and (13).

Other amounts excluded
 (9) The rules may prescribe amounts that are to be taken, in relation to specified kinds of individuals, to be excluded from a determination under paragraph (2)(a) or (b) or (3)(a) or (b) or subsection (4).

Couples
 (10) The value of the assets of an individual who is a member of a couple is taken to be 50% of the sum of:
 (a) the value of the individual's assets; and
 (b) the value of the assets of the individual's partner.

Joint ownership etc.
 (11) A reference to the value of the assets of an individual is, in relation to an asset owned by the individual jointly or in common with one or more other people, a reference to the value of the individual's interest in the asset.

Application of Social Security Act provisions
 (12) The following provisions of Division 1 of Part 3.12 of the Social Security Act 1991 do not apply for the purposes of working out the value of the individual's assets:
 (a) paragraphs 1118(1)(a), (b) and (g), subparagraphs 1118(1)(ga)(ii) and (gb)(ii), paragraphs 1118(1)(u) and (v) and subsection 1118(4) (Certain assets to be disregarded in calculating the value of a person's assets);
 (b) section 1118AB (Value of person's assets reduced: certain transactions to do with aged care accommodation bonds);
 (c) section 1118AC (Value of person's assets reduced: refunds to charge exempt residents).
 (13) Also, subsection 1121(1) of the Social Security Act 1991 does not apply, for the purposes of working out the value of the individual's assets, to a charge or encumbrance over the amount of any refundable deposit balance in respect of a refundable deposit paid by the individual.

Determinations not legislative instruments
 (14) If a determination under this section is in writing, it is not a legislative instrument.