1.1.D.230 Disposal preclusion period (PBS)

Definition

For the purposes of PBS, a disposal preclusion period is a period during which a person's membership becomes non-accruing.

For gifts made on or before 30 June 2002, a disposal preclusion period applies when a PBS member or their partner gifts more than $10,000 of assets in a designated year. The preclusion period is 5 years starting from the date the gift exceeds the allowable limit.

For gifts made on or after 1 July 2002, the disposal preclusion period applies when a PBS member or their partner gifts more than $10,000 in a financial year (i.e. 1 July to 30 June) or gifts more than $30,000 in a 5 year period. The preclusion period is 5 years starting from the date the gift exceeds the allowable limit.

If a decision is made that a gift has been returned under 4.1.1, the disposal preclusion period ceases from the date of return of the gift.

Act reference: SSAct section 93U Disposal preclusion period-disposals before 1 July 2002, section 93UA Disposal preclusion period-disposals on or after 1 July 2002, section 92P Non-accruing membership-preclusion periods

Policy reference: SS Guide 3.4.7.50 Non-accruing Membership of PBS, 4.1.1 General Provisions of Deprivation

Last reviewed: 6 November 2017