Section 612 — Social Security Act 1991: Value of assets of members of couples

(1) If: (a) a person is a member of a couple; and (b) the person’s partner: (i) is not in receipt of a social security or service pension, income support supplement or a veteran payment; and (ii) is not in receipt of a social security benefit; the value of the person’s assets, or of assets of a particular kind of the person, includes the value of the partner’s assets or of assets of that kind of the partner. Note: For social security pension see subsection 23(1). (2) If: (a) a person is a member of a couple; and (b) the person’s partner is in receipt of: (i) a social security or service pension, income support supplement or a veteran payment; or (ii) a social security benefit; the value of: (c) the person’s assets is taken to be 50% of the sum of the value of the assets of the person and the value of the assets of the person’s partner; and (d) the person’s assets of a particular kind are taken to be 50% of the sum of the value of the assets of that kind of the person and the value of the assets of that kind of the person’s partner.