Document ID: chunk:federal_register_of_legislation:C2004A04993:body:0:p43
Version: federal_register_of_legislation:C2004A04993
Segment Type: other
Provision Reference: 
Character Range: 108620–111286

any) of other dispositions of assets previously made by the care receiver during that pension year, exceeds $10,000;

the lesser of the following amounts is to be included in the value of the care receiver's assets for the period of 5 years that starts on the day on which the disposition takes place:

SCHEDULE 10—continued

    (c) the amount of the first-mentioned disposition;

    (d) the amount by which the sum of the amount of the first-mentioned disposition of assets, and of the amounts (if any) of other dispositions of assets previously made by the person during that pension year, exceeds $10,000.

Note 1: For disposes of assets see section 198F.
Note 2: For amount of disposition see section 198G.

"(3) In this section:

pension year, in relation to a carer, means:

    (a) the 12 months starting on the day the carer pension first became payable to the carer; or

    (b) any preceding or following period of 12 months.

Disposal of assets in pre-pension years—members of couples including care receivers

Application

"198K.(1) This section applies in determining whether a person (the carer) qualifies for a carer pension when claiming it for caring for a care receiver who is a member of a couple when the claim is made.

Increase in value of assets of care receiver and of care receiver's partner

"(2) Subject to subsections (3) and (4), if:

    (a) the care receiver or the care receiver's partner has disposed of an asset during a pre-pension year of the carer; and

    (b) the amount of that disposition, or the sum of that amount and the amounts (if any) of other dispositions of assets previously made by the care receiver or the partner during that pre-pension year, exceeds $10,000;

the lesser of the following amounts is to be included in the value of both the assets of the care receiver and the assets of the partner, for the period of 5 years that starts on the day on which the disposition took place:

    (c) 50% of the amount of the first-mentioned disposition;

    (d) 50% of the amount by which the sum of the amount of the first-mentioned disposition and of the amounts (if any) of other dispositions of assets previously made by the care receiver or the care receiver's partner during that pre-pension year exceeds $10,000.

Note 1: For disposes of assets see section 198F.
Note 2: For amount of disposition see section 198G.

SCHEDULE 10—continued

Effect of separation of couple after disposal of care receiver's asset

"(3) If:

    (a) an amount is included under subsection (2) in the value of both the assets of the care receiver and the assets of the care receiver's partner because of a disposition of an asset