Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a special resident if:
(a) the resident is a member of an ordinary couple with different principal homes; and
(b) the principal home of the resident's partner is not a special residence; and
(c) the partner does not have a right or interest in the partner's principal home that is to be disregarded because of paragraph 52(1)(b).
Entry contribution above extra allowable amount
(2) If:
(a) this section applies to a special resident; and
(b) the resident's entry contribution was more than the amount that would be the extra allowable amount if the resident were not a member of a couple;
then, for the purposes of this Act, the resident and the partner are each to be taken to have a right or interest in a principal home to which paragraph 52(1)(b) applies.
Entry contribution equal to or below extra allowable amount
(3) If:
(a) this section applies to a special resident; and
(b) the resident's entry contribution was equal to or less than the amount that would be the extra allowable amount if the resident were not a member of a couple;
then, the following provisions apply for the purposes of the application of this Act to the resident and to the resident's partner:
(c) both the resident, and the partner, are to be taken not to have a right or interest in relation to the resident's principal home; and
(d) the resident's assets are to be taken to include an asset whose value is equal to the amount of the resident's entry contribution.
(4) Subsection (3) applies:
(a) whether or not the resident actually has any right or interest in the resident's principal home; and
(b) whatever the value of any right or interest that the resident does have in the resident's principal home; and
(c) whether or not the partner actually has any right or interest in the resident's principal home; and
(d) whatever the value of any right or interest that the partner does have in the resident's principal home.