What assets are assessed
An asset is any property or item of value owned by any household resident aged 18 and over, including those held outside Australia.
Asset value is based on the total market value of the asset less any money owed against it, such as a loan.
Assessable assets include:
- any cash or money at a bank, building society or credit union, bonds, debentures, shares, property trusts, managed investments and income stream products
- any assets you hold in superannuation and rollover funds if you are of age to realise the particular investment
- the value of any businesses including goodwill (where goodwill is shown on the balance sheet) or attributed value of a private trust or private company
- the surrender value of life insurance policies
- the value of any assets gifted or given away in the previous five year period, including transferring assets for less than market value
- the value of any life interest or loans you have made to other people
- the value of any boats, caravans or other recreational vehicles owned (such as quad bikes or jet skis)
- the value of any hobby or trading collections
- liquid assets are any funds, including monies owed by your employer that are readily available to either you or your partner
- compensation payments
- the value of any real estate and farms. Households with residents who own, or partly own any residential property in Australia will be ineligible for public housing. Any non-residential or uninhabitable property or land is considered an asset and the current market value (as assessed by a professional agency or practitioner) must be provided by the client.
Last updated: 08 October 2018
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