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.R.15 Real assets (HEAS)

Definition

For the purposes of the HEAS (formerly PLS), 'real assets' in relation to a person or a couple means the real estate in Australia, including the principal home, owned by the person, their partner (1.1.P.85) or the claiming couple.

Act reference: SSAct section 11A(1) Principal home

Some assets are excluded

Real assets do not include any real estate the person, their partner or the couple wish to exclude as security from the HEAS debt.

Example: A married couple has real estate worth $250,000. They wish to exclude a holiday home worth $100,000 from assessment under the HEAS as they wish the house to be kept in the family for the use of their children and grandchildren. Accordingly, their eligibility under the HEAS will be assessed taking into account real assets of $150,000 only.

Policy reference: SS Guide 3.4.5.20 Security for HEAS

Last reviewed: 4 January 2022

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