Document ID: chunk:federal_register_of_legislation:C2024C00866:section:5mc
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 5MC
Character Range: 182519–183454

5MC  Special residence and resident definitions
 (1) In this Act, unless the contrary intention appears:
actual value has the meaning given by subsection (4).
special residence has the meaning given by subsection (2).
special resident has the meaning given by subsection (3).
 (2) A residence is a special residence if the residence is:
 (a) in a retirement village; or
 (b) a granny flat; or
 (c) a sale leaseback home.
 (3) A person is a special resident if the person is:
 (a) a retirement village resident; or
 (b) a granny flat resident; or
 (c) a sale leaseback resident.
 (4) In Subdivision C of Division 11 (sections 52KA to 52X), a reference to the actual value of the assets of a member of a couple is a reference to the value of the assets that are actually assets of the person rather than the person's partner, that is, the value that would be the value of the person's assets apart from the provisions in point SCH6‑F2.