it the same as wages

Viewing 5 posts - 1 through 5 (of 5 total)

aj_2
Participant
@aj_2
Join Date: 2003
Post Count: 86
August 30, 2003 - 12:43 am
[?][^]can anyone bexplane the affect on centrelink payments is it the same as wages
RodC
Member
@rodc
Join Date: 2002
Post Count: 335
August 30, 2003 - 12:51 am
Centrelink use your taxable income and will make any adjustments accordingly.
In some cases there will also be an asset test.
Check with centrelink.
Rod.
Chantell
Participant
@chantell
Join Date: 2003
Post Count: 5
August 30, 2003 - 1:50 am
Hey aaronj,
Sorry for being nosy but what sort of payments to you want from Centrelink, I recieve YA and it doesn’t pay for everything.
Centrelink demands on
a) your age if you under 25 then conditions apply -i.e. the still classifry you under your parents income (if you don’t meet certain conditions),
b) your financial situation,
c) your assets (I know with YA if you have more than $2000 (I think) in your bank account when applying the are likely to postpone the payments for a period of time and tell you to live off savings – if this is the case could be an idea to hide the money.)
I hope this helps – they are three major things I have learnt with my dealings.
Chantell
Cameron_2
Participant
@cameron_2
Join Date: 2003
Post Count: 6
August 30, 2003 - 8:50 am
Hi aaronj,
I’m not quite sure what your question is. But if you are asking whether a lender will accept centrelink payments in the same manner as wages when deciding if you can afford a loan, it does depend.
For example if you want to use family payments as part of your income, your children must be under 12 years old. (i.e. the income must continue for at least 5 years.)
Lenders generally won’t accept unemployment benefits. As for youth allowance, I’m not sure but probably not as there is no guarantee on it continuing.
Hope this helps.
Cameron
aj_2
Participant
@aj_2
Join Date: 2003
Post Count: 86
August 30, 2003 - 9:47 am
quote:
Hi aaronj,
I’m not quite sure what your question is. But if you are asking whether a lender will accept centrelink payments in the same manner as wages when deciding if you can afford a loan, it does depend.
For example if you want to use family payments as part of your income, your children must be under 12 years old. (i.e. the income must continue for at least 5 years.)
Lenders generally won’t accept unemployment benefits. As for youth allowance, I’m not sure but probably not as there is no guarantee on it continuing.
Hope this helps.
Cameron
thanks for the info I should have figured that”s what they would do