Section 52E — Veterans' Entitlements Act 1986: Disposal of assets

For the purposes of this Act, a person disposes of assets of the person if the person engages in a course of conduct that diminishes, directly or indirectly, the value of the person’s assets and: (a) the person receives no consideration in money or money’s worth for the diminution in the value of the person’s assets; or (b) the person receives inadequate consideration in money or money’s worth for the diminution in the value of the person’s assets; or (c) the Commission is satisfied that the purpose, or the dominant purpose, of the person in engaging in that course of conduct was: (i) to obtain or enable the person’s partner to obtain a service pension, income support supplement, a veteran payment or a social security pension or benefit; or (ii) to obtain or enable the person’s partner to obtain a service pension, income support supplement, a veteran payment or a social security pension or benefit at a higher rate than that which would otherwise have been payable; or (iii) to ensure that the person or the person’s partner would be eligible for benefits under Division 12 of this Part or fringe benefits under the Social Security Act. Note: Under Subdivision B of Division 11A of Part IIIB, certain transfers of assets to special disability trusts can be taken not to be disposals of the assets (but this can be subject to a limit on the aggregate value of the transfers).