Australia Social Security Act 1991 (Age Pension: qualification, income test and assets test) 1064-G: Assets test: assets value limit by family situation and home ownership, 3 dollars per fortnight per 1,000 dollars above the limit

What does 1064-G require?

Module G works out the effect of the person's assets on the maximum payment rate: value the person's assets under Part 3.12 (for a couple, 50 per cent of the combined assets), identify the assets value limit from Table G-1 for the person's family situation and whether the person is a property owner (the principal home being disregarded, so homeowners have the lower limit), and reduce the yearly maximum payment rate by 78 dollars for each 1,000 dollars (3 dollars a fortnight) by which the value of the assets exceeds the limit (points 1064-G1 to G8). The assets value limits are indexed each 1 July.