Document ID: chunk:federal_register_of_legislation:C2024A00104:section:319:p2
Version: federal_register_of_legislation:C2024A00104
Segment Type: section
Provision Reference: s 319 (pt 2/3)
Character Range: 508209–510974

free area (see subsection (3)), the per day asset tested amount is zero.
           Step 10. If the value of the individual's assets exceeds the asset free area but not the first asset threshold (see paragraph (4)(e)), the per day asset tested amount is 17.5% of the excess, divided by 364.
           Step 11. If the value of the individual's assets exceeds the first asset threshold but not the second asset threshold (see paragraph (4)(f)), the per day asset tested amount is 17.5% of the difference between the asset free area and the first asset threshold, divided by 364.
           Step 12. If the value of the individual's assets exceeds the second asset threshold but not the third asset threshold (see paragraph (4)(g)), the per day asset tested amount is the sum of the following, divided by 364:

                (a) 17.5% of the difference between the asset free area and the first asset threshold;
                (b) 7.8% of the excess above the second asset threshold.

           Step 13. If the value of the individual's assets exceeds the third asset threshold but not the fourth asset threshold (see paragraph (4)(h)), the per day asset tested amount is the sum of the following, divided by 364:

                (a) 17.5% of the difference between the asset free area and the first asset threshold;
                (b) 7.8% of the difference between the second asset threshold and the third asset threshold.

           Step 14. If the value of the individual's assets exceeds the fourth asset threshold, the per day asset tested amount is the sum of the following, divided by 364:

                (a) 17.5% of the difference between the asset free area and the first asset threshold;
                (b) 7.8% of the difference between the second asset threshold and the third asset threshold;
                (c) 7.8% of the excess above the fourth asset threshold.

      The daily means tested amount is the sum of the per day income tested amount and the per day asset tested amount.
                  Note: If either the per day income tested amount or the per day asset tested amount cannot be worked out, the daily means tested amount cannot be determined (see section 320 about an individual having means not disclosed status).
 (2) The total assessable income free area is the sum of the following:
 (a) the amount worked out by applying point 1064‑B1 of Pension Rate Calculator A at the end of section 1064 of the Social Security Act 1991;
 (b) the amount worked out under point 1064‑BA4 of Pension Rate Calculator A at the end of section 1064 of the Social Security Act 1991;
 (c) the amount worked out by applying point 1064‑E4 of Pension Rate Calculator A at the end of section 1064 of the Social Security Act 1991.
 (3) The