Document ID: chunk:federal_register_of_legislation:C2015C00322:clause:7_9
Version: federal_register_of_legislation:C2015C00322
Segment Type: clause
Provision Reference: sch 7 cl 9
Character Range: 91612–92707

9  Section 118ZZA (at the end of the Seniors Health Card Income Test Calculator)
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Long‑term financial asset
 118ZZA‑12 For the purposes of this Division, a long‑term financial asset is:
 (a) a financial investment within the meaning of paragraph (i) of the definition of financial investment in subsection 5J(1), where the asset‑tested income stream (long term) arises under a complying superannuation plan (within the meaning of the Income Tax Assessment Act 1997) that is not a constitutionally protected fund (within the meaning of that Act); or
 (b) a financial investment within the meaning of paragraph (j) of the definition of financial investment in subsection 5J(1).
Note: Schedule 7 to the Social Services and Other Legislation Amendment (2014 Budget Measures No. 6) Act 2014 preserves the rules in this Calculator for a certain kind of long‑term financial asset that was being provided to a person immediately before 1 January 2015 where the person held a seniors health card immediately before that day provided that, since that day, the person has held a seniors health card.