Document ID: chunk:federal_register_of_legislation:C2025C00162:section:14a:p3
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 14A (pt 3/3)
Character Range: 236935–238455

referred to in paragraph (b) is to be disregarded for the purposes of determining the amount of the person's liquid assets.
 (5A) If:
 (a) a person has or had a debt not related to the person's principal home or to any other residential property in which the person holds or held, solely or jointly, any right or interest; and
 (b) since becoming qualified for youth allowance or austudy payment (as the case requires), the person has, in order to discharge the debt in whole or in part, made a payment that the person was not obliged to make; and
 (c) since becoming qualified for youth allowance or austudy payments (as the case requires), the person had not already made such a payment in order to discharge that debt in part;
the amount of the payment referred to in paragraph (b) is to be disregarded for the purposes of determining the amount of the person's liquid assets.
 (6) For the purpose of determining whether a liquid assets test waiting period applies in relation to a claim for a social security benefit, subsection (5) can apply to a payment made after the claim if the payment is made before such a liquid assets test waiting period would end under section 549A, 575A or 598 (whichever is applicable).
 (7) For the purposes of Division 3A of Part 3 of the Administration Act, a person is in severe financial hardship if the value of the person's liquid assets does not exceed:
 (a) if the person is not a member of a couple and does not have a dependent child—$2,500; or
 (b) in any other case—$5,000.