Income and asset limits - housing assistance

Income

Income is gross income, that is income you receive before tax and other deductions are made. Income includes wages, and payments from Centrelink and the Department of Veterans' Affairs.

Assets

Assets generally include money in the bank, shares, mobile homes, businesses and so on. Assets generally do not include personal belongings, your car or furniture, but may include superannuation funds if you are able to access them. If you own or part-own a house or flat, you are not eligible for assistance. However special provisions may apply if you are unable to sell this property. Please ask for further information about this.

Proof of income and assets

When you apply for housing assistance or a bond loan, you must provide proof of your current income and assets.

For income, this includes a recent letter from Centrelink showing the amount you receive, a 13-week wage statement signed by your employer setting out your gross (before tax) income, or (if you are self-employed) a profit and loss statement from your accountant.

For assets, this includes a current bank book or statement (or account print out showing your name) and proof of the value of any other assets, such as shares or business assets. These documents must not be more than four weeks old when you apply for assistance.

Alternatively, you may use Centrelink Confirmation eServices, authorising Centrelink to electronically send us information about your income and assets.

Income and asset limits effective from 20 March 2014.

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