Document ID: chunk:federal_register_of_legislation:C2004A00406:clause:1_55:p2
Version: federal_register_of_legislation:C2004A00406
Segment Type: clause
Provision Reference: sch 1 cl 55 (pt 2/3)
Character Range: 36553–39127

1190 and 1191).

Note 2: For calculating the value of assets and liquid assets, see paragraph (5)(a).

Note 3: For liquid assets see subsection 19B(1).

Note 4: For liquid assets limit see paragraph (5)(b).

Note 5: For accepted estimated taxable income see subsection 198B(5).

Failing assets and special income tests

 (3) The Secretary may decide that subparagraph 198(5)(d)(i) does not disqualify the person from carer payment if the value of the assets of the care receiver, or the sum of the values of the assets of the care receivers, is more than $410,000 and not more than $608,500 and:
 (a) the value of the liquid assets of the care receiver, or the sum of the values of the liquid assets of the care receivers, is equal to or greater than the liquid assets limit; or
 (b) the amount of the accepted estimated taxable income of the care receiver, or the sum of the amounts of the accepted estimated taxable incomes of the care receivers, for the current financial year is equal to or more than the threshold amount worked out under subsection (6).

Note 1: The amounts specified in subsection (3) are indexed each year on 1 January (see sections 1190 and 1191).

Note 2: For calculating the value of assets and liquid assets, see paragraph (5)(a).

Note 3: For liquid assets see subsection 19B(1).

Note 4: For liquid assets limit see paragraph (5)(b).

Note 5: For accepted estimated taxable income see subsection 198B(5).

Failing assets test by large margin but passing special income test

 (4) The Secretary may decide that subparagraph 198(5)(d)(i) does not disqualify the person from carer payment if:
 (a) the value of the assets of the care receiver, or the sum of the values of the assets of the care receivers, is more than $608,500; and
 (b) the value of the liquid assets of the care receiver, or the sum of the values of the liquid assets of the care receivers, is less than the liquid assets limit; and
 (c) the amount of the accepted estimated taxable income of the care receiver, or the sum of the amounts of the accepted estimated taxable incomes of the care receivers, for the current financial year is less than the threshold amount worked out under subsection (6).

Note 1: The amount specified in paragraph (4)(a) is indexed each year on 1 January (see sections 1190 and 1191).

Note 2: For calculating the value of assets and liquid assets, see paragraph (5)(a).

Note 3: For liquid assets see subsection 19B(1).

Note 4: For liquid assets limit see paragraph (5)(b).

Note 5: For accepted estimated taxable income see subsection 198B(5).