1.1.E.170 Exempt asset

Usage

This definition applies to all payments.

Definition

An exempt asset is an asset (1.1.A.290) that is disregarded under the asset test, irrespective of its value.

Act reference: SSAct section 1118(1) Certain assets to be disregarded in calculating the value of a person's assets

Policy reference: SS Guide 4.6.2 Assets that are Exempt from Assessment

Last reviewed: 9 February 2015