The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to social security payments. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

1.1.D.110 Deprived asset

Usage

This definition applies to all payments subject to assets testing provisions.

Definition

A deprived asset is an asset (1.1.A.290) that has been disposed of for nil or less than its value. That is, adequate consideration has not been received. The value of the asset is still included for assessment purposes.

Act reference: SSAct section 9(4)-'deprived asset', section 1123 Disposal of assets, section 1124 Amount of disposal or disposition

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