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Extra Allowable Amount/EAA

The "extra allowable amount" is the difference between the property owner assets value limit and the non property owner assets value limit which applies to the person.

As the property and non property owner assets value limits are indexed or adjusted on an annual basis, the extra allowable amounts also increase annually.

The assets value limits applied to this formula are the limits applicable at the time the person made the [glossary:entry contribution:DEF/Entry contribution] to enter the [glossary:special residence:DEF/Special Residence].

 

Refer to Section 52N of the VEA for the full definition.

 

 

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