We’ve improved how you manage your financial details online
27 July 2020
We’ve made it easier to update your income and assets online. We use this information to work out your payment rate.
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.
It’s quick and easy to update your details using your Centrelink online account through myGov. You can view, add, edit and delete most of your financial details. You can also make multiple updates at once, which saves you time.
You can make updates to your details in the following categories:
- 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 private companies.
We’ve 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 and update your partner’s income and assets.
If you get Age Pension, you can choose someone to make income and assets updates on your behalf. For example, your financial advisor or tax agent. You just need to make a nominee arrangement.
These improvements to our online services are part of the Welfare Payment Infrastructure Transformation programme. We’re making it easier for you to claim online and manage your payments.
It’s easier to update your income and assets online. We need these details to make sure you get the right payment rate.
We’ve temporarily removed the Assets test for some new claims due to coronavirus (COVID-19).
Page last updated: 28 July 2020
This information was printed 11 August 2020 from https://www.servicesaustralia.gov.au/individuals/news/weve-improved-how-you-manage-your-financial-details-online. 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.