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This topic discusses:
The reasonable value conversion factors test is to be used ONLY for administrative purposes to assess reasonableness. It is NOT to be used for any other purpose.
Explanation: The test is a quasi-actuarial valuation of the value of the person's life interest or right to occupy the granny flat based on the ALT published by the AGA.
For administrative purposes, the value of the transferred property is the:
where:
The combined annual partnered pension rate is applied irrespective of the person's couple status. For a partnered couple, use the age of the YOUNGER partner to work out the conversion factor.
Use the tables following to determine the conversion factor to be used in the reasonable conversion factors test.
|
If the person's age next birthday is... |
Then use this conversion factor... |
|
51 |
33.30 |
|
52 |
32.39 |
|
53 |
31.47 |
|
54 |
30.56 |
|
55 |
29.65 |
|
56 |
28.74 |
|
57 |
27.85 |
|
58 |
26.95 |
|
59 |
26.07 |
|
60 |
25.19 |
|
61 |
24.32 |
|
62 |
23.45 |
|
63 |
22.60 |
|
64 |
21.75 |
|
65 |
20.91 |
|
IF the person's age next birthday is... |
THEN use this conversion factor... |
|
66 |
20.08 |
|
67 |
19.26 |
|
68 |
18.46 |
|
69 |
17.66 |
|
70 |
16.87 |
|
71 |
16.09 |
|
72 |
15.33 |
|
73 |
14.58 |
|
74 |
13.84 |
|
75 |
13.12 |
|
76 |
12.41 |
|
77 |
11.73 |
|
78 |
11.06 |
|
79 |
10.42 |
|
80 |
9.80 |
|
IF the person's age next birthday is... |
THEN use this conversion factor... |
|
81 |
9.20 |
|
82 |
8.62 |
|
83 |
8.06 |
|
84 |
7.53 |
|
85 |
7.03 |
|
86 |
6.56 |
|
87 |
6.11 |
|
88 |
5.69 |
|
89 |
5.31 |
|
90 |
4.96 |
|
91 |
4.64 |
|
92 |
4.34 |
|
93 |
4.08 |
|
94 |
3.84 |
|
95 |
3.63 |
|
96 |
3.45 |
|
97 |
3.28 |
|
98 |
3.13 |
|
99 |
3.00 |
|
100 |
2.88 |
If a person is over 100 years of age the conversion factor for 100 years continues to be used.
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Last reviewed: 16 May 2011
