Value of assets of members of couples
734 Value of assets of members of couples
If:
the person is a member of a couple; and
the person’s partner:
is not in receipt of a social security pension, a service pension, income support supplement or a veteran payment; and
is not in receipt of a social security benefit;
the value of the person’s assets, or of assets of a particular kind of the person, includes the value of the partner’s assets or of assets of that kind of the partner.
For social security pension see subsection 23(1).
If:
the person is a member of a couple; and
the person’s partner is in receipt of:
a social security pension, a service pension, income support supplement or a veteran payment; or
a social security benefit;
the following provisions have effect:
the value of the person’s assets is taken to be 50% of the sum of the value of the assets of the person and the value of the assets of the person’s partner; and
the value of the person’s assets of a particular kind is taken to be 50% of the sum of the value of the assets of that kind of the person and the value of assets of that kind of the person’s partner.
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