Document ID: chunk:federal_register_of_legislation:C2025C00162:section:3:p8
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 3 (pt 8/10)
Character Range: 1723659–1727085

of a member of a couple is to be taken to be 50% of the sum of:
 (i) the value of the person's assets; and
 (ii) the value of the person's partner's assets; and
 (b) the value of the assets of a particular kind of a member of a couple is to be taken to be 50% of the sum of:
 (i) the value of the person's assets of that kind; and
 (ii) the value of the person's partner's assets of that kind.

Assets value limit
 1066A‑H3 A person's assets value limit is worked out using Table H‑1. Work out the person's family situation and home ownership situation. The assets value limit is the corresponding amount in column 3.

Table H‑1—Assets value limit
Column 1                      Column 2                                                  Column 3
                                                                                        Assets value limit
Item                          Person's family situation                                 Column 3A                           Column 3B
                                                                                        Either person or partner homeowner  Neither person nor partner homeowner
1.                            Not member of a couple                                    $250,000                            $450,000
2.                            Partnered (partner getting neither pension nor benefit)   $187,500                            $287,500
3.                            Partnered (partner getting pension or benefit)            $187,500                            $287,500

Note 1: For member of a couple, partnered (partner getting neither pension nor benefit) and partnered (partner getting pension or benefit) see section 4.
Note 2: For homeowner see section 11.
Note 3: Items 2 and 3 apply to members of illness separated couples.
Note 4: The assets value limits are indexed or adjusted annually in line with CPI increases (see sections 1191 to 1194 and 1203).

Pension reduction for assets in excess of assets value limit
 1066A‑H4 A person's reduction for assets is worked out using Table H‑2. Work out which family situation applies to the person. The reduction for assets is the amount per year worked out using the corresponding calculation in column 3.

Table H‑2—Reduction for assets
Column 1                        Column 2                                                 Column 3
Item                            Person's family situation                                Reduction
1.                              Not member of couple
2.                              Partnered (partner getting neither pension nor benefit)
3.                              Partner (partner getting pension or benefit)

Note 1: For member of a couple, partnered (partner getting neither pension nor benefit), partnered (partner getting benefit) and partnered (partner getting pension) see section 4.
Note 3: For assets excess see point 1066A‑H5 below.

Assets excess
 1066A‑H5 A person's assets excess is the value of the person's assets less the person's assets value limit.
 1066A‑H7 In calculating a person's assets excess under point 1066A‑H5 disregard any part of the excess that is not a multiple of $250.

Module I—Remote area allowance

Remote area allowance
 1066A‑I1 An amount by way of remote area allowance is to be added to a person's rate of pension if:
 (aa) either:
 (i) the person's rate of pension apart from this point is greater than nil; or