It’s now easier to update your income and assets online for Centrelink
24 August 2020
It’s important to tell us your income and assets so you get the right Centrelink payment rate.
Changes to your income and assets may affect your payments from us. You must tell us about any changes to your income and assets within 14 days. We temporarily removed the assets test for some payments, but this will end on 24 September 2020. You don’t have to wait until this date to tell us about your assets.
From 25 September 2020, the assets test will apply again for the following payments:
- JobSeeker Payment
- Parenting Payment
- Youth Allowance.
This means you won’t be eligible for payment if your assets are over the allowable limit. This amount depends on your situation and the type of payment you get. Keep your income and assets information up to date to avoid a debt.
To help you do this, we’ve made it easier to update your income and assets details online. You can do this using your Centrelink online account through myGov. You can make multiple updates at once, saving you time.
You can view, add, edit and delete details for:
- financial investments, including banking, shares and managed investments
- home contents, personal effects, vehicles and other assets
- income streams and superannuation pensions
- real estate
- sole trader and partnership businesses.
We’ve also made it clearer when we need more information from you. Online updates have a Next steps checklist at the end. This lists what you need to give us to finalise your update. It also lists when we need it.
If you need to give us supporting documents, you can upload them online. You don’t need to give them to us in person or by mail. We’ll also send you a reminder through SMS or email, to give us this information.
Once you’ve submitted your update online, a Receipt Page will confirm we’ve received your update. You will also get a receipt number, which you’ll be able to save to your online account. You’ll also get a receipt number if you have permission to enquire about and update your partner’s income and assets.
You can choose a person or organisation to make income and assets updates on your behalf. To do this, you need to make a nominee arrangement.
These improvements to our online services are part of the Welfare Payment Infrastructure Transformation programme. The programme aims to make it easier for you to claim and manage your payments online.
Watch our video about updating your income and assets online.
Learn how to update your income and assets using our online help guide.
Learn more about asset types we assess.
Regularly check our news to find out about changes that may affect your payments.
You need to tell us about your assets so we can pay you the right amount.
If you get an income support payment from us, we’ll assess your income and assets differently after 25 September 2020.
Page last updated: 26 August 2020
This information was printed 24 November 2020 from https://www.servicesaustralia.gov.au/individuals/news/its-now-easier-update-your-income-and-assets-online-centrelink. 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.