Home equity access scheme definitions
1133AA Home equity access scheme definitions
In this Division, unless the contrary intention appears:
disposes of real assets has its ordinary meaning.
home equity access scheme advance payment: see section 1134A.
home equity access scheme advance payment period, for a person, means the period of 26 fortnights starting on the day in relation to which the person’s home equity access scheme advance payment was worked out under subsection 1134A(2).
maximum payment rate means the rate worked out at Step 4 of the Method statement in Module A of the relevant Pension Rate Calculator.
nominated amount means the amount (if any) specified to be the nominated amount under paragraph 1136(1A)(b) or subsection 1137(1) (as the case may be).
real assets, in relation to a person or couple, means the real property (including the principal home) of the person or couple in Australia that is specified under paragraph 1136(1A)(a).
For the purposes of this Division, a reference to a charge under section 1138 includes a reference to a charge continued in force by subsection 1138(3) or paragraph 1139(2A)(b).
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.