Document ID: chunk:federal_register_of_legislation:C2024C00866:section:5l:p4
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 5L (pt 4/4)
Character Range: 162489–164376

period after 30 June 2002 is, or is a part of, a 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 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.
 (10) The lending of money after 22 May 1986 is not a disposition of an asset for the purposes of section 52E.

Pre‑pension year—disposal of assets
 (10A) A reference in sections 52FA and 52GA (disposal of assets) to a pre‑pension year, in relation to a person who is claiming:
 (a) a service pension; or
 (b) income support supplement; or
 (c) a social security pension;
is a reference to the period of 12 months ending on the day that is the person's provisional commencement day and each preceding period of 12 months.
Note: A disposition of assets that is more than 5 years old is disregarded (see section 52J).

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
 (11) 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.
 (12) For the purposes of the application of this Act to a service pension, income support supplement or a veteran payment, 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.