Ask an Adviser

Category » Income Support

There were 6 articles found in this category:

• Q1 What level should my assessable assets total in order to be eligible for a Centrelink allowance?

  You will not be eligible for a Centrelink allowance if your assessable assets exceed the levels below. If you are part of a couple, your assets are considered on a joint basis: Figures at 20 September 2011: Single Person (homeowner) - $186,750 Single Person (non-homeowner) - $321,750 Couples (h ... Read more

• Q2 What is deeming?

  Deeming is the process applied by Centrelink to assess the level of income you derive from your financial investments, regardless of the actual income being earned. Financial investments include: Bank and credit union accounts Term deposits Friendly society bonds Managed funds Shares Superannu ... Read more

• Q3 What eligibility tests do I need to consider to receive Centrelink payments?

  There are 2 means tests that are applied to decide your eligibility for payments from Centrelink: The assets test The income test For more information on these tests, contact us. Read more

• Q4 How can I improve my eligibility for Centrelink/DVA Benefits?

  Your ability to improve your eligibility for Centrelink/DVA Benefits is dependent upon whether you are currently under either the income or the assets test. In deciding upon your level of entitlement, Centrelink/DVA assesses you on both the level of assets that you hold and the income that you ... Read more

• Q5 What are pensioner concession cards?

  There are a number of concession cards that become available to senior Australians. Most people approaching pensionable age are keen to qualify for the Pensioner Concession Card, which gives discounts to a number of services as well as access to the Pharmaceutical Benefits Scheme. In order to q ... Read more

• Q6 What assets are assessable in the assets test?

  Cash, investments such as shares, unit trusts (investment/managed funds), insurance and friendly society bonds (less any debts against these assets, e.g. a loan you arranged to purchase some shares, but not if the loan is secured against your home) Investment property (less any debt against the ... Read more