Commonwealth Consolidated Acts

SOCIAL SECURITY ACT 1991 - SECT 19B

                   In section 198N (exemption from care receiver assets test):

"liquid assets" , in relation to a person, means:

                     (a)  the person's cash; and

                     (b)  the person's shares and debentures in a public company within the meaning of the Corporations Act 2001 ; and

                     (c)  any amount deposited with, or lent to, a bank or other financial institution by the person (whether or not the amount can be withdrawn or repaid immediately); and

                     (d)  any amount due, and able to be paid, to the person by, or on behalf of, a former employer of the person; and

                     (e)  any other readily realisable assets of the person;

but does not include:

                      (f)  a roll‑over superannuation benefit (within the meaning of the Income Tax Assessment Act 1997 ); or

                    (fa)  a superannuation lump sum (within the meaning of that Act) that is a contributions‑splitting superannuation benefit (within the meaning of that Act); or

                    (fb)  a directed termination payment (within the meaning of section 82‑10F of the Income Tax (Transitional Provisions) Act 1997 ); or

                    (fc)  the surrender value of a life policy (within the meaning of the Life Insurance Act 1995 ); or

                     (g)  an amount of an AGDRP that the person received, if the Secretary is satisfied that the length of time since receiving the payment is still reasonable in the circumstances.