Document ID: chunk:federal_register_of_legislation:C2025C00162:section:198n:p4
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 198N (pt 4/5)
Character Range: 622936–625366

one or more FTB children—those FTB children; and
 (aa) the value of the liquid assets of a care receiver who is a sole care child, combined care child or multiple care 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 FTB children—those FTB children.
  However, if the care receiver is one of 2 or more care receivers each of whom is a combined care child or a multiple care 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 FTB child (except the child who is the other care receiver or the children who are the other care receivers) of the care receiver or the care receiver's partner;
 (iii) if the care receiver is not a member of a couple—any FTB child (except the child who is the other care receiver or the children who are the other care receivers).
  However, liquid assets of the same person are not to be taken into account in respect of any of the other care receivers; and
Note: The value of the liquid assets of the child who is the other care receiver or the children who are the other care receivers 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.
Note 1: For liquid assets see subsection 19B(1).
Note 2: Subsections 198D(1B), (1D) and (1DB) provide that if a sole care child, a combined care child or a multiple care child lives with a parent, the assets listed in subsection 198D(1A) and paragraphs 198D(1C)(b) and (1DA)(c) are taken to be assets of the child.
Note 3: For subparagraph (5)(aa)(ii), see