Conversion Factor Table

Last amended: 22 March 2011

When to apply the conversion factor table

This table is only to be used for the purpose of establishing the reasonable amount of an [glossary:entry contribution:426] to a [glossary:granny flat:52] and in certain circumstances to establish the life interest of a sale leaseback contract. It is not to be used for any other purpose.    

Vacation of Granny Flat

Last amended: 10 April 2012

Assessment of the vacation of a granny flat

If a person vacates a [glossary:granny flat:52] right within 5 years of the date of the right being established, the circumstances of the vacation of the property will determine whether or not the person is considered to have deprived themselves of an asset.    

Description - Sale of Principal Home or Other Property

What is a sale of property agreement?

Pensioners can sell their property and receive payment over an agreed period. In most cases there are separate sale and loan agreements and little doubt about whether the agreements create a loan. The following table describes how the agreement is to be considered if separate agreements do not exist.

If...

Then it is considered to be a...

There is not a separate loan agreement