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Retirement Villages Regulation 2025
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24 Definitions
24 Definitions
In this part—
major item of capital means an item of capital, including a shared item of capital, for which the operator of a retirement village is responsible that has a purchase price of $1,000 or more.
remaining effective life, of a major item of capital, means the remaining period over which the item may reasonably be expected to be operational or used.
shared item of capital means a major item of capital that is also used in the operation of another retirement village or a residential aged care facility.