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 relevant legislation/policy. 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.E.170 Exempt asset
This definition applies to all payments.
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
The Department of Social Services acknowledges the traditional country throughout Australia on which we gather, live, work and stand. We acknowledge all traditional custodians, their Elders past, present and emerging and we pay our respects to their continuing connection to their culture, community, land, sea and rivers.