66Deemed income from financial assets

66 Deemed income from financial assets

For the purpose of applying Division 1B of Part 3.10 of the Social Security Act in working out the rate of farm household allowance for a person, if: (a) the person is a beneficiary of a trust, or a shareholder of a company; and (b) the person makes a loan to the trustee of the trust, or to the company; and (c) the loan relates to a farm asset that: (i) the trustee has in the capacity of trustee; or (ii) the company has; and (d) the outstanding amount of the principal of the loan exceeds the total value of all the financial investments: (i) the trustee has in the capacity of trustee; or (ii) the company has; the loan is taken, to the extent that it relates to that farm asset, not to be a financial asset that the person has.