Assessment and sale of real estate and timeshare asset 108-04130010

Policy

ABSTUDY

Links to the ABSTUDY Policy Manual go to pdf and docx documents. Select the document and go to the reference(s) below.

ABSTUDY Policy Manual, 65.2, The Personal Assets Tests

Property and Assets

Social Security Guide, 4.6.3, Assessing the Principal Home

Social Security Guide, 4.6.6, Determining the Value of an Asset

Social Security Guide, 4.6.8, Assessing Land Adjacent to the Principal Home

Business and Trust structures

Social Security Guide, 4.6.5.30, Assessing Property, Real Estate & Unit Trusts

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

Legislation

Links to the Federal Register of Legislation site go to a 'Series' page. Select the ‘Latest’ version.

Social Security Act 1991

• section 1074, Ordinary income from a business-treatment of trading stock
• section 1075, Permissible reductions of business income
• 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 11, Assets test definitions
• subsection 6, Private land
• subsection 5, Principal home
• section 11A, Principal home definition for the purpose of the assets test