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.
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If... |
Then it is considered to be a... |
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There is not a separate loan agreement |
This section contains the guidelines for general and special exemptions from the deeming provisions.
Last Amended: 11 July 2022
Any person who is seeking or who receives a pension payable under Part II or Part IV of the Veterans' Entitlements Act 1986 (VEA) who:
Under the [glossary:VEA:373], the Minister for Veterans' Affairs is the only person with the power to exempt:
Last amended: 3 June 2013
A child of a person must first meet the definition of a dependent child which includes requirements such as age, student status, income and residency. Section 5F(1) of the VEA defines dependent child as having the same meaning as in the Social Security Act 1991.
Disposal dates include the date on which:
Forms of investment that are classed as superannuation fund investments
Superannuation and roll-over investments include:
Pensioners may:
The following life insurance products are regarded as managed investments and hence are subject to deeming provisions:
Unbundled insurance policies are also known as universal life plans. These policies separate:
