Social Security Act 1964

  • not the latest version
  • This version was replaced on 8 February 2017 to make corrections to sections 3(1), 11, 11A(4), 61CF(2)(e), 61EA(2), 71A(4), 72(b), 74(1)(d), 86(2), 104A, 120(3), and Schedules 4, 18, 27, and 28 under section 25(1)(f), (i), (j)(ii), (iii), (iv), and (k) of the Legislation Act 2012.
68 Exemption of income from former home property

Notwithstanding anything to the contrary in this Act, where any person has let his home or sold it on terms providing for the payment of the purchase money or any part thereof by instalments or by which the purchase money or any part thereof is secured by mortgage thereon, the chief executive may, in the chief executive’s discretion, in computing the income of that person, set off against the rent or interest derived or received by him in respect of that letting or sale the whole or any part of—

(a)

any rent payable by him in respect of the tenancy of another home:

(b)

any interest payable by him or unpaid purchase money owing by him in respect of the purchase of another home:

(c)

any interest payable by him on money advanced to him for the purchase of another home:

(d)

any money payable by him in respect of his board, lodging, or maintenance, whether in a private home or in any public or private institution.

Compare: 1961 No 6 s 7

Section 68: amended, on 1 October 1998, by section 11 of the Employment Services and Income Support (Integrated Administration) Act 1998 (1998 No 96).

Section 68: amended, on 1 July 1998, by section 2(3) of the Social Security Amendment Act 1998 (1998 No 19).

Section 68: amended, on 1 April 1994, by section 5 of the Social Welfare (Transitional Provisions) Amendment Act (No 2) 1993 (1993 No 149).

Section 68: amended, on 23 June 1987, by section 2(3)(d) of the Social Security Amendment Act 1987 (1987 No 106).