5JD

Asset‑tested status of secondary FLA income streams

In force

If there is a primary FLA income stream

(1)

If a primary FLA income stream is, or would be if the income stream were assessed for the purposes of this Act:

(a)

an asset‑tested income stream (long term); or

(b)

an asset‑tested income stream (short term); or

(c)

an asset‑tested income stream (lifetime);

then the secondary FLA income stream to which it is related is also to be treated as if it were assessed as an income stream of that kind.

If there is no primary FLA income stream

(2)

If:

(a)

there is no primary FLA income stream in relation to a secondary FLA income stream; and

(b)

had there been a primary FLA income stream in relation to that secondary FLA income stream it would have been assessed for the purposes of this Act as an asset‑tested income stream (long term), an asset‑tested income stream (short term) or an asset‑tested income stream (lifetime);

then the secondary FLA income stream is to be treated as if it were assessed as an income stream of that kind.

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