Commonwealth Consolidated Acts

FARM HOUSEHOLD SUPPORT ACT 2014 - SECT 66

    For the purpose of applying Division   1B of Part   3.10 of the Social Security Act in working out the rate of farm household allowance for a person, if:

  (a)   the person is a beneficiary of a trust, or a shareholder of a company; and

  (b)   the person makes a loan to the trustee of the trust, or to the company; and

  (c)   the loan relates to a farm asset that:

  (i)   the trustee has in the capacity of trustee; or

  (ii)   the company has; and

  (d)   the outstanding amount of the principal of the loan exceeds the total value of all the financial investments:

  (i)   the trustee has in the capacity of trustee; or

  (ii)   the company has;

the loan is taken, to the extent that it relates to that farm asset, not to be a financial asset that the person has.