Commonwealth Numbered Acts

SOCIAL SECURITY LEGISLATION AMENDMENT ACT 1992 No. 81, 1992 - SECT 64

64. Section 1155 of the Principal Act is amended:
(a) by omitting from subsection (1) "retirement village or granny flat"
(first occurring) and substituting "special";
(b) by omitting from paragraph (1)(b) "in a retirement village or granny
flat" and substituting " a special residence";
(c) by omitting from paragraph (2)(a) "retirement village or granny flat"
and substituting "special";

   (d)  by omitting paragraph (2)(d) and substituting the following paragraph:

"(d) the value of the resident's principal home is taken to be the resident's
individual residence contribution; and";

   (e)  by omitting paragraph (2)(e) and substituting the following paragraph:

"(e) the value of the partner's principal home is taken to be the partner's
individual residence contribution; and";

   (f)  by omitting from paragraph (3)(a) "retirement village or granny flat"
        and substituting "special";

   (g)  by omitting paragraph (3)(d) and substituting the following paragraph:

"(d) the resident's assets are taken to include an amount equal to the
resident's individual residence contribution; and";

   (h)  by omitting paragraph (3)(e) and substituting the following paragraph:

"(e) the partner's assets are taken to include an amount equal to the
partner's individual residence contribution.".