Social Assistance Act, 2004 (Act No. 13 of 2004)RegulationsRegulations in terms of the Social Assistance Act, 2004 (Act No. 13 of 2004)Chapter 4 : Determination of Income Thresholds20. Determination of assets |
| (1) | When determining the assets of the applicant and his or her spouse, in the case of a disability, war veteran’s and older person’s grant application— |
| (a) | any assets donated by either the applicant or his or her spouse must be taken into account; |
| (b) | the difference between the selling price of immovable property and the amount on which transfer duty was paid, where the selling price is less than the amount on which transfer duty was paid, must be taken into account; |
| (c) | the Agency must, if he or she is satisfied that an applicant or his or her spouse had impoverished himself or herself or relinquished assets in order to obtain a grant, take such assets into account; |
| (d) | the municipal or market value of immovable property owned and occupied by the applicant and his or her spouse must not be taken into account; and |
| (e) | the municipal value of the property owned but not occupied by the applicant and his or her spouse must be taken into account, but any outstanding bond payments must be deducted. |
| (2) | Despite subregulation (1)(a), (b) or (c) the value of such assets must not be taken into account after a period of five years has lapsed from the date of donation or relinquishment. |
| (3) | For purposes of determining the means of an applicant for an older person’s grant, disability grant and war veteran’s grant "assets" means— |
| (a) | immovable property owned by the applicant or his or her spouse, property held under leasehold, cash investment, bonds or loans or any outstanding debts in favour of the applicant or his or her spouse, interest in shares, share capital or assets of a company or other institution, endowment policies after maturity date and cash in hand or in any account with a financial institution; |
| (b) | any fideicommissary rights held by the applicant or his or her spouse; and |
| (c) | any lump sum invested by the applicant or his or her spouse in a company or a financial institution with the aim of procuring an annuity. |