The assets test exemption for some payments ends on 24 September
22 September 2020
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.
What is changing
On 25 September 2020 we’ll reintroduce the assets tests for all of the following payments:
What I need to update
Assets are property or items you or your partner own in full or part, or have an interest in. There are some types of assets we don’t assess. For example, we don’t assess your principal home and the first 2 hectares of the land it’s on. Read more about the types of assets we assess.
If you’ve given us assets details after 23 March 2020, you don’t need to update them again unless they’ve changed.
How to update
You can also follow our guide to managing your income and assets online.
If you can’t update your details online, you can also update them by calling your regular payment line.
Changes to your income and assets may affect your payments from us. Tell us about any changes within 14 days so we can pay you the right amount.
What happens next
If you update your assets and they’re over the limit for your situation, you won’t be eligible for payment.
If you update your assets and they’re under your limit, you’ll keep getting your payment.
If you don’t tell us about your assets, we’ll stop your payment on 25 September until we have the details.
Page last updated: 24 September 2020
This information was printed 31 December 2020 from https://www.servicesaustralia.gov.au/individuals/news/assets-test-exemption-some-payments-ends-24-september. 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.