sec.152KDiscount for pensioners

sec.152K Discount for pensioners

In this section— pensioner means a person in receipt of a pension under any law of the Commonwealth or of the State declared, or belonging to a class of pension declared, under a regulation for the purposes of this section. The Governor in Council may by regulation declare that each pensioner, who is the owner of a prescribed property that is the principal place of residence of that pensioner, be granted a discount on the contributions payable pursuant to this division in respect of that property at such rate as is specified in the regulation. If a pensioner entitled to a discount in respect of prescribed property is not the sole owner, the discount is an amount that bears to the amount of the discount to which the pensioner would have been entitled as the sole owner, the same proportion as the pensioner’s interest in the property bears to the total of the interests of all owners of the property. For the purposes of subsection (3) — owners who hold interests in a property as joint tenants are taken to hold interests in the property as tenants in common in equal shares; and a pensioner who holds an interest in a property is taken to also hold any interest in the property held by the spouse of the pensioner. s 152K (prev s 110) amd 1995 No. 55 s 27 ; 2024 No. 22 s 92 sch 1 reloc and renum 2024 No. 22 s 60 (2) (sec.152K-ssec.1) In this section— pensioner means a person in receipt of a pension under any law of the Commonwealth or of the State declared, or belonging to a class of pension declared, under a regulation for the purposes of this section. (sec.152K-ssec.2) The Governor in Council may by regulation declare that each pensioner, who is the owner of a prescribed property that is the principal place of residence of that pensioner, be granted a discount on the contributions payable pursuant to this division in respect of that property at such rate as is specified in the regulation. (sec.152K-ssec.3) If a pensioner entitled to a discount in respect of prescribed property is not the sole owner, the discount is an amount that bears to the amount of the discount to which the pensioner would have been entitled as the sole owner, the same proportion as the pensioner’s interest in the property bears to the total of the interests of all owners of the property. (sec.152K-ssec.4) For the purposes of subsection (3) — owners who hold interests in a property as joint tenants are taken to hold interests in the property as tenants in common in equal shares; and a pensioner who holds an interest in a property is taken to also hold any interest in the property held by the spouse of the pensioner.

• (a) owners who hold interests in a property as joint tenants are taken to hold interests in the property as tenants in common in equal shares; and
• (b) a pensioner who holds an interest in a property is taken to also hold any interest in the property held by the spouse of the pensioner.