Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies in determining whether a person (the carer ) qualifies for a carer payment when claiming it for caring for a care receiver who is a profoundly disabled child or care receivers each of whom is a disabled child.
(1A) This section applies only to disposals of assets that took place before 1 July 2002.
(2) If:
(a) a person has disposed of one or more of the child's assets during a pre - pension year of the carer; and
(b) the amount of that disposition, or the sum of that amount and of the amounts (if any) of other dispositions of the child's assets previously made during that pre - pension year, exceeds $10,000;
the lesser of the following amounts is to be included in the value of the child's assets for the period of 5 years that starts on the day on which the disposition took place:
(c) the amount of the first - mentioned disposition;
(d) the amount by which the sum of the amount of the first - mentioned disposition of assets and of the amounts (if any) of other dispositions of assets previously made during that pre - pension year exceeds $10,000.
Note 1: For disposes of assets see section 198F.
Note 2: For amount of disposition see section 198G.
Note 3: Subsections 198D(1B) and (1D) provide that if the child lives with a parent, the assets listed in subsection 198D(1A) and paragraph (1C)(b) are taken to be assets of the child.
(3) In this section:
"pre-pension year" , in relation to a carer, means:
(a) the 12 months ending on the carer's start day for carer payment; or
(b) any preceding period of 12 months.