Document ID: chunk:federal_register_of_legislation:C2004A00406:clause:1_58
Version: federal_register_of_legislation:C2004A00406
Segment Type: clause
Provision Reference: sch 1 cl 58
Character Range: 39330–41143

58  Paragraphs 198N(5)(aa), (b) and (c)
Repeal the paragraphs, substitute:
 (aa) the value of the liquid assets of a care receiver who is a profoundly disabled child or a disabled child is the sum of the values of the liquid assets of the following people:
 (i) the care receiver;
 (ii) if the care receiver lives with his or her parent—the parent;
 (iii) if the parent with whom the care receiver lives is a member of a couple—the parent's partner;
 (iv) if the parent with whom the care receiver lives or the parent's partner has one or more FA children—those FA children.
  However, if the care receiver is one of 2 or more care receivers each of whom is a disabled child, liquid assets of the same person are not to be taken into account in respect of any of the other care receivers; and
 (ab) the value of the liquid assets of a care receiver who is a lower ADAT score adult is the sum of the values of the liquid assets of the following people:
 (i) the care receiver;
 (ii) if the care receiver is a member of a couple—the care receiver's partner and any FA child (except the dependent child who is the other care receiver) of the care receiver or the care receiver's partner;
 (iii) if the care receiver is not a member of a couple—any FA child (except the dependent child who is the other care receiver); and

Note: The value of the liquid assets of the dependent child who is the other care receiver is not adjusted by adding any other person's liquid assets.
 (b) the liquid assets limit is $10,000 if the care receiver or any of the care receivers is a member of a couple, or $6,000 if not; and
 (c) the taxable income of a care receiver or of any of 2 or more care receivers for a particular financial year is the taxable income of the care receiver for that year as worked out under section 198B.