This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 31 July 2009, amend the Social Security (Long-term Residential Care) Regulations 2005 (the principal regulations) by increasing the amounts that are allowed to be gifted under regulations 9 and 9A of the principal regulations during a gifting period without affecting the financial means assessment under section 146 of the Social Security Act 1964.
These adjustments are made because a Cabinet decision in 2004 was taken that the allowable gifting level be reviewed annually for adjustment in line with the Consumers Price Index, and that the adjustments occur in $500 increments. The movements in the Consumers Price Index (All Groups) since the gifting levels were set in the principal regulations exceeded $500 for the first time in the year to 31 March 2009.
Date of notification in Gazette: 30 July 2009.
These regulations are administered by the Ministry of Social Development and the Ministry of Health.