Document ID: chunk:federal_register_of_legislation:C2004C01135:clause:3_3:p4
Version: federal_register_of_legislation:C2004C01135
Segment Type: clause
Provision Reference: sch 3 cl 3 (pt 4/8)
Character Range: 172697–175242

home;
  to the extent of the lesser of:
 (iv) the amount of the spending; and
 (v) $5,274, less the amount of the person's after‑tax income concession (if any) for the student under point 1067G‑G11;
 (e) if the person has a disability—spending to acquire, or modify, property to assist the person to cope with the disability;
 (f) spending or savings from any arm's length loan received by the person in that tax year;
 (g) spending to repay a loan received by the person in that tax year that is not an arm's length loan, or to pay interest on the loan;
 (h) spending or savings from the proceeds of any liquidation of assets of the person that were held at the beginning of that year;
 (i) spending or savings from the amount of any windfall gain that is not a gift to the person;
 (j) spending or savings, of not more than $6,000, from income that is exempt income under item 1.4 of the table in section 51‑5 of the Income Tax Assessment Act 1997;
 (k) spending or savings from any part of a lump sum compensation payment made to the person on which tax is not payable under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.

 (3) Also, the actual means of the person do not include the following amounts:
 (a) subject to subpoint (4), an amount equal to the amount of the income or resources of a business of the person that is deductible under the Income Tax Assessment Act 1936, or the Income Tax Assessment Act 1997 because the amount was, or will be, necessarily incurred in carrying on the business;
 (b) an amount equal to the amount of any reduction in liquid assets of the person held at the beginning of the appropriate tax year and not accounted for by spending of a kind referred to in subpoint (2).

 (4) The reference in paragraph (3)(a) to the amount of the income or resources of a business of the person that is deductible does not include:
 (a) the amount of any losses from the business that are carried forward from a tax year earlier than the appropriate tax year; or
 (b) the amount of a contribution to a superannuation fund, in relation to the business, that exceeds:
 (i) for an employee—the minimum contribution for the employee under the Superannuation Guarantee (Administration) Act 1992; or
 (ii) for a person engaged otherwise than as an employee—the lesser of $3,000 and the total amount of the contributions for the person, and each family member of the person, for the appropriate tax year.

Amounts not included in actual means of a family member of claimant/recipient

 1067G‑G10 In