Assets and liabilities of a business 043-03090000

Policy

Social Security Guide 4.6.5 Assessing Personal Assets & Financial Investments

Social Security Guide 4.6.2 Assets that are Exempt From Assessment

Social Security Guide 4.7 Business Structures, Primary Production & pre-01/01/2002 Assessment of Trusts & Private Companies

Social Security Guide 4.7.1 Assessing the Income & Assets of Sole Traders & Partnerships

Social Security Guide 4.12 Means Test Treatment of Private Trusts & Private Companies from 01/01/2002

Social Security Guide 4.12.4 Assessing the Assets of Controlled Private Trusts & Controlled Private Companies

Social Security Guide 4.12.5 Liabilities of a Controlled Private Trust & Controlled Private Company

Legislation

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Social Security Act 1991

• section 11, Assets test definitions
• section 9, Financial assets and income streams definitions
• part 3.12, division 1, Value of person's assets
• section 1118, Certain assets to be disregarded in calculating the value of a person's assets
• section 1121, Effect of charge or encumbrance on value of assets
• section 1121A, Effect of certain liabilities on value of assets used in primary production
• section 1122, Loans
• section 1208E, Attribution of assets
• section 1208F, When attributed asset is unrealisable
• section 1208G, Effect of charge or encumbrance on value of assets
• section 1208H, Effect of unsecured loan on value of assets
• section 1208J, Value of company's or trust's assets etc