Commonwealth Consolidated Acts

VETERANS' ENTITLEMENTS ACT 1986 - SECT 52E

                   For the purposes of this Act, a person disposes of assets of the person if the person engages in a course of conduct that diminishes, directly or indirectly, the value of the person's assets and:

                     (a)  the person receives no consideration in money or money's worth for the diminution in the value of the person's assets; or

                     (b)  the person receives inadequate consideration in money or money's worth for the diminution in the value of the person's assets; or

                     (c)  the Commission is satisfied that the purpose, or the dominant purpose, of the person in engaging in that course of conduct was:

                              (i)  to obtain or enable the person's partner to obtain a service pension, income support supplement or a social security pension or benefit; or

                             (ii)  to obtain or enable the person's partner to obtain a service pension, income support supplement or a social security pension or benefit at a higher rate than that which would otherwise have been payable; or

                            (iii)  to ensure that the person or the person's partner would be eligible for benefits under Division 12 of this Part or fringe benefits under the Social Security Act.

Note 1:       If Division 8 or 8A applies in relation to the transfer by a person of a qualifying interest or an eligible interest in a farm or relevant farm asset, that transfer and certain transfers by the person's partner are taken not to be disposal of assets (see sections 49C and 49S).

Note 2:       Under Subdivision B of Division 11A of Part IIIB, certain transfers of assets to special disability trusts can be taken not to be disposals of the assets (but this can be subject to a limit on the aggregate value of the transfers).