Disposal of assets in income year—individual higher ADAT score adults
198JC Disposal of assets in income year—individual higher ADAT score adults
Application
This section has effect in determining whether a person (the carer) who has been receiving a carer payment for caring for a care receiver who:
is a higher ADAT score adult; and
is not a member of a couple;
continues to qualify for the payment.
Disposals to which section applies
This section applies to a disposal (the relevant disposal) on or after 1 July 2002 by the care receiver of an asset of the care receiver.
Increase in value of assets of higher ADAT score adult
If the amount of the relevant disposal, or the sum of that amount and the amounts (if any) of other disposals of assets previously made by the care receiver during the income year in which the relevant disposal took place, exceeds $10,000, then, for the purposes of this Act, the lesser of the following amounts is to be included in the value of the care receiver’s assets for the period of 5 years starting on the day on which the relevant disposal took place:
the amount of the relevant disposal;
the amount by which the sum of the amount of the relevant disposal, and the amounts (if any) of other disposals of assets previously made by the care receiver during the income year in which the relevant disposal took place, exceeds $10,000.
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