How an Income Bank works

You can earn up to $437 a fortnight under the personal income test before we reduce your payment.

You build up your Income Bank credits when you earn less than $437 a fortnight.

Your balance reduces when you earn more than $437 a fortnight.

Building up your balance

If you earn less than $437 a fortnight, we’ll add the difference between $437 and your income to your Income Bank.

For example, if you earn $350 in a fortnight, you’ll get 87 credits in your Income Bank.

That is, 437 – 350 = 87.

Reducing your balance

If you earn $437 or more in a fortnight and have a positive Income Bank balance, we’ll reduce your Income Bank credits before we reduce your payment.

We’ll reduce your payment if your Income Bank balance is 0 and you earn more than $437 a fortnight.

For example, if you have 87 credits in your Income Bank you can earn $524 for one fortnight before we reduce your payment.

Reporting your income

You need to keep us updated if your circumstances change, including any money you or your partner earn from paid work.

You can report your income and tell us about changes to your circumstances online. Use your Centrelink online account through myGov or the Express Plus Centrelink mobile app.

Read more about income reporting.

Your partner’s income

Income Bank is only available for your income and not your partner’s income.

Under the partner income test for Austudy and Youth Allowance, or ABSTUDY, your partner’s income can still affect your payment rate. If your partner earns over a certain amount, even if you have a positive Income Bank balance, your payment will reduce.

Page last updated: 14 November 2019