Document ID: chunk:federal_register_of_legislation:C2025C00162:section:11:p4
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 11 (pt 4/4)
Character Range: 200335–202114

July 2002 and ending on or after that date would be a pension year of a person, the part of that period that ends immediately before that date is taken to be a pension year of the person.
 (10AA) References in subsection (10) to a social security benefit include references to a non‑benefit PP (partnered) and a non‑benefit parenting allowance.

Pre‑pension year—disposal of assets
 (10A) A reference in sections 1124A and 1125A (disposal of assets) to a pre‑pension year, in relation to a person who is claiming:
 (a) a social security or service pension or income support supplement; or
 (b) a social security benefit; or
 (d) a non‑benefit PP (partnered); or
 (e) a non‑benefit parenting allowance;
is a reference to the period of 12 months finishing on the day that is the person's start day and each preceding period of 12 months.

No pre‑pension year to extend beyond 30 June 2002
 (10B) No period after 30 June 2002 is, or is a part of, a pre‑pension year of a person. If, apart from this subsection, a period beginning before 1 July 2002 and ending on or after that date would be a pre‑pension year of a person, the part of that period that ends immediately before that date is taken to be a pre‑pension year of the person.

Unrealisable asset
 (12) An asset of a person is an unrealisable asset if:
 (a) the person cannot sell or realise the asset; and
 (b) the person cannot use the asset as a security for borrowing.
 (13) For the purposes of the application of this Act to a social security pension (other than a pension PP (single)), an asset of a person is also an unrealisable asset if:
 (a) the person could not reasonably be expected to sell or realise the asset; and
 (b) the person could not reasonably be expected to use the asset as a security for borrowing.