Austudy asset test

Eligability for Austudy - student-finance. What is asset test? Can I pass the assets test? We may also use a partner income test and a parental means test.

We’ll base your rate on the test that in the lowest payment rate. Earning income while getting a payment Students and Australian Apprentices. You can earn money while you get Austudy or Youth Allowance. But how much you earn will affect your payment. Income tests We check income to see if you can get some ABSTUDY payments and how much you might get.

The income test will still apply. Most types of income count in your income test. We use this and the assets test to work out if you can get a payment and calculate rates. Read the full conditions under who can get it.

Asset ’s Test This is a test to see how much assets you have. Everything you have such as any cars, property, cash in bank accounts and things such as that will be assessed to determine if you have an amount of assets that exceeds the limit. If you do have more assets than allowed you will not be have eligibility for Austudy. Previous Family Assets Tests and Family Actual Means Test are no longer required. Fortnightly personal income test threshold Centrelink applies the personal income test to independent Youth Allowance and Austudy applicants.

You should be aware of several points. Gross income is assessed. The LAWP applies to ALL YA, Austudy , JSP and SA recipients whose liquid assets (.L.50) exceed a specified amount. Some payments may have other provisions that exempt a person from the LAWP in some circumstances.

These provisions are explained in the specific payment topic. We determine your liquid assets waiting period based on your personal situation and the amount of funds you have. Refer to the table below to find out the number of weeks you need to wait based on your liquid assets. Liquid assets Usage. If you receive $for fortnights your payments will be cancelled and you will need to reapply.

The maximum you can receive from Austudy per fortnight is $407. The pensions assets test applies to all pensions. Eligibility for AUSTUDY is subject to an assets test.

Students cannot get AUSTUDY if the value of assets is beyond certain maximum levels. Regulation will increase the asset test threshold levels, in line with indexation. For students the income test is subject to Income Bank credit.

ABSTUDY Income support scheme for those of Aboriginal or Torres Strait Islander descent undertaking study. Assets tests Different assets tests apply for different payments. This means you can get JobSeeker Payment even if you or your partner have a lot of assets (the things you own, like your car and the money you have in the bank). The threshold amount includes the total amount of all assessable assets. We have waived the assets tests and waived the waiting period but there is still the income.

For JobSeeker, it says the asset tests will be waived from April 27th. Does that mean your application can be rejected now based on your current assets and then have to re-apply later (after April 27th)? This change is temporary and will operate until the Coronavirus Supplement ceases to be payable.

As a result of this change, the new partner income test cut-out for JobSeeker Payment will be $068.