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SOCIAL SECURITY ACT 1991 - SECT 549A

Liquid assets test waiting period

When person subject to liquid assets test waiting period--general

  (1)   Subject to this section, if:

  (a)   the value of a person's liquid assets is more than the person's maximum reserve on:

  (i)   the day on which the person becomes qualified for youth allowance; or

  (ii)   the day on which the person claims a youth allowance; and

  (b)   the person is not a transferee to a youth allowance;

the person is subject to a liquid assets test waiting period.

Note:   For liquid assets and maximum reserve see section   14A.

Exception--person already subject to liquid assets test waiting period in previous 12 months

  (2)   Subsection   (1) does not apply to a person if, at any time during the 12 months before:

  (a)   the day on which the person becomes qualified for youth allowance; or

  (b)   the day on which the person claims youth allowance;

the person:

  (c)   was subject to a liquid assets test waiting period under this Part and that period has ended; or

  (d)   has served a liquid assets test waiting period under another Part of this Act;

that started during that 12 months.

Exception--waiver for hardship

  (3)   If the Secretary is satisfied that a person is in severe financial hardship because the person has incurred unavoidable or reasonable expenditure while serving a liquid assets test waiting period, the Secretary may determine that the person does not have to serve the whole, or any part, of the waiting period.

Note 1:   For in severe financial hardship see subsections   19C(2) (person who is not a member of a couple) and 19C(3) (person who is a member of a couple).

Note 2:   For unavoidable or reasonable expenditure see subsection   19C(4).

Exception--certain transferees to youth allowance

  (4)   Subsection   (1) does not apply to a person if:

  (a)   the person is a transferee to a youth allowance; and

  (b)   the person claims the youth allowance within 14 days of the transfer day.

Exemption--person undertaking specified activity

  (5)   Subsection   (1) does not apply to a person who:

  (a)   is undertaking an activity specified in an instrument made under subsection   (6); and

  (b)   has been exempted from the application of subsection   (1) by the Secretary.

  (6)   The Secretary may, by legislative instrument, specify activities for the purpose of paragraph   (5)(a).

Exception--death of person's partner

  (7)   Subsection   (1) does not apply to a person if:

  (a)   the person makes a claim for youth allowance on or after the commencement of this subsection; and

  (b)   the person makes the claim after the death of the person's partner on or after the commencement of this subsection; and

  (c)   if the person is a man or a woman who was not pregnant when her partner died--the person makes the claim in the period of 14 weeks starting on the day of the death of the partner; and

  (d)   if the person is a woman who was pregnant when her partner died--the person makes the claim:

  (i)   in the period of 14 weeks starting on the day of the death of the partner; or

  (ii)   in the period starting on the day of the death of the partner and ending when the child is born or the woman otherwise stops being pregnant;

    whichever ends later.


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