We include most real estate you own in your assets test. The only real estate asset we don't include is your principal home. We include real estate you: rent out.
Is my home considered an asset? Your home is not counted as an asset when calculating pension or payment, but it does affect how your pension or payment is assessed under the assets test. If you are a homeowner your asset value limit is lower than someone who does not own their residence.
JobSeeker payment
As a minimum, these 3 conditions need to be met: you're between 22 and age pension age. you meet residence rules. your income and assets are under the limits set by Services Australia.
You need to tell us when your circumstances change. Then we can assess your eligibility for payments and services using the correct details. This includes changes to real estate assets for you and your partner. Read more about real estate assets and how they can affect your payment.
In most instances, you'll need to provide documents to show proof of assets. The specific documents you need will depend on the type of asset, but brokerage statements and bank statements are commonly used to show proof of assets.
You have savings or other money
If you or your partner have liquid assets over certain limits, you may have to wait 1 to 13 weeks. Liquid assets are any funds readily available to you or your partner. This includes money owed by your or your partner's employer. Read about liquid assets waiting periods.
What we mean is – while Centrelink don't have the power to spot check your personal bank account, they do conduct cross checks with other Government agencies and use data-matching to check that we're all doing the right thing. These processes help them identify and investigate any cases of possible welfare fraud.
The Work Bonus income bank is useful for pensioners who wish to work, particularly those who undertake intermittent or occasional work. Note: from 1 December 2022 to 31 December 2023, a one-off, temporary credit of $4,000 applies to Work Bonus income bank balances.
The 2023–24 Budget includes 4 'cost-of-living relief' measures aimed at those in receipt of government payments: a $40 per fortnight increase in the rate of JobSeeker Payment and other working-age payments.
Ordinary waiting period
You may need to wait one week for your payments to start. We call this an ordinary waiting period. In some circumstances, this waiting period can be waived. Read more about the ordinary waiting period.
There will still be a job application element, with jobseekers needing to apply for at least five jobs a month - which will be worth a minimum 25 points.
But some of your assets are also 'deemed' to earn income and so they may be viewed in two ways at once by Centrelink. Your car is an asset. Unlike your primary residence, it is not exempt from the assets test. It is, however, not deemed, so there is no income attributed to this asset.
Your assets include any property or possessions you own in full, in part, or have an interest in. This includes both: assets held outside Australia. debts owed to you.
A homeowner is an income support recipient who has, or whose partner (1.1. P. 85) has: a right or interest in the place they occupy, AND. the right or interest gives them reasonable security of tenure.
If you leave Australia to live in another country, your payment will stop when you depart. If your travel is short term, your payment will stop when you depart, unless you're travelling for an approved reason. You may get JobSeeker Payment because of a residence exemption available to some New Zealand citizens.
It replaces the “Jobactive” system that required the “mutual obligation” of applying for 20 jobs a month for payments to continue. You must now instead earn 100 points a month through a variety of activities, including applying for jobs, attending courses and even working.
This is a Services Australia payment for people who are looking for work. You can also get this payment if you can't work or study for a short time. To get this payment, you must be between 22 and Age Pension age.