Are you making a claim for JobSeeker Payment, Austudy or Youth Allowance?
16 September 2020
From 25 September, we’ll once again apply the Liquid Assets Waiting Period to new claims. This means you may need to wait to get your payment.
How long you’ll have to wait depends on how much money you have ready access to. We call this money your liquid assets.
Earlier this year, we waived the Liquid Assets Waiting Period for new claims due to coronavirus (COVID-19). This temporary waiver finishes on 24 September 2020.
This means from 25 September, it applies when you claim 1 of the following payments:
The Liquid Assets Waiting Period can be between 1 and 13 weeks. It applies if you have more than $5,500 and are single, or $11,000 if you’re partnered or have dependents.
We may still waive the Liquid Assets Waiting Period if you’re experiencing severe financial hardship. You need to be able to show us that the financial hardship is because of unavoidable or reasonable expenses. There are also other reasons why you may be exempt from this waiting period.
If you’re already getting one of these payments, this won’t affect you.
Liquid assets vs assets
We treat liquid assets differently to assets. The value of the assets you own may affect if you can get a payment or not. Liquid assets, which could be money in your bank account, can affect how soon you can get a payment.
We'll SMS you to ask you to update your assets. If you don’t do this before 25 September, we’ll stop your payment.
If you get an income support payment from us, we’ll assess your income and assets differently after 25 September 2020.
Page last updated: 16 September 2020
This information was printed 18 September 2020 from https://www.servicesaustralia.gov.au/individuals/news/are-you-making-claim-jobseeker-payment-austudy-or-youth-allowance. It may not include all of the relevant information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/individuals/site-notices when using this material.