Document ID: chunk:federal_register_of_legislation:C2004A04993:body:0:p46
Version: federal_register_of_legislation:C2004A04993
Segment Type: other
Provision Reference: 
Character Range: 115822–118650

a care receiver; or

    (b) less than 5 years before the time referred to in paragraph (a) but before the time when the disposer could, in the Secretary's opinion, reasonably have expected that the carer would become qualified for carer pension for a reason described in paragraph (a); or

    (c) before 9 May 1995.

Exemption from care receiver assets test

Application

"198N.(1) If:

    (a) subparagraph 198(1B)(f)(i) would disqualify for carer pension a person caring for a care receiver; and

    (b) the care receiver lodges with the Department, in a form approved by the Secretary, a request that the care receiver be taken to satisfy subparagraph 198(1B)(f)(i); and

    (c) the request includes a written estimate of the care receiver's taxable income for the current financial year under subsection 198B(3); and

    (d) the Secretary accepts the estimate under subsection 198B(4); the following provisions of this section have effect.

Failing assets test but passing special income test

"(2) The Secretary may decide that the care receiver is taken to satisfy subparagraph 198(1B)(f)(i) if:

    (a) the value of the care receiver's assets is more than $376,750 and not more than $559,250; and

    (b) the value of the care receiver's liquid assets is less than the liquid assets limit; and

SCHEDULE 10—continued

    (c) the amount of the care receiver's accepted estimated taxable income for the current financial year is less than the threshold amount worked out under subsection (6).

     Note 1: The asset values specified in paragraph (2)(a) 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 and special income tests

"(3) The Secretary may decide that the care receiver is taken to satisfy subparagraph 198(1B)(f)(i) if the value of the care receiver's assets is more than $376,750 and not more than $559,250 and:

    (a) the value of the care receiver's liquid assets is equal to or greater than the liquid assets limit; or

    (b) the amount of the care receiver's accepted estimated taxable income for the current financial year is equal to or more than the threshold amount worked out under subsection (6).

    Note 1: The asset values 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