4.1 Deprivation of Income & Assets

Introduction

This chapter contains the general provisions covering deprivation of income (section 8(1)-'income') and assets (1.1.A.290). It explains key principles and covers particular circumstances of deprivation.

Note: For deprivation provisions relating to ATE income streams paid from SMSFs or SAFs refer to 4.9.4.50.

Act reference: SSAct section 8(1)-'income'

Policy reference: SS Guide 4.2.5 CP Income & Assets Tests, 4.2.3 Pensions & Benefits Assets Tests & Limits, 4.9.4.50 Deprivation Assessment for Lifetime or Life Expectancy ATE Income Streams Paid from SMSFs or SAFs

In this chapter

This chapter contains the following sections:

4.1.1 General Provisions of Deprivation

4.1.2 Deprivation of Assets Before a Claim & Significant Dates

4.1.3 Deprivation of Assets & Income - Effect on Income

4.1.4 Deprivation Related to Trusts & Private Companies before 01/01/2002

4.1.5 Deprivation Related to Deceased Estates & Separation

4.1.6 Deprivation Related to Home & Accommodation Transfers

4.1.7 Deprivation Related to Farm Transfers

4.1.8 Deprivation Related to Private Annuities

4.1.9 Hardship Provisions

4.1.10 The Rolling Five Financial Year Deprivation Provisions & Other Deprivation Changes Effective from 1 July 2002

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Last reviewed: 6 December 2010