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This definition applies to all payments.
An exempt asset is an asset (1.1.A.290) that is disregarded under the asset test, irrespective of its value.
Act reference: SSAct section 1118(1) Certain assets to be disregarded in calculating the value of a person's assets
Policy reference: SS Guide 4.6.2 Assets that are Exempt from Assessment
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Last reviewed: 5 September 2011
