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Employment and work readiness assistance : Contents

Cash assets

Cash assets mean the assets of the client and their partner (if any) and, if applicable, the person or persons upon whom a dependent child is reliant on for financial support. A cash asset is an asset that can be easily converted into cash.

Cash assets include

  • bills of exchange or promissory notes
  • building society shares
  • money in bank accounts, including fixed term deposits with any bank, friendly society, credit union, or building society
  • money invested with or lent to any bank, other financial institution or person
  • money withdrawn from a KiwiSaver scheme
  • mortgage investments and other long term loans
  • shares, stocks, debentures, bonus bonds and other bonds
  • the applicant's share in any partnership and
  • the net equity held in any property or land not used as the person's home

Cash assets do not include

Note a bank overdraft facility is not considered a cash asset or a resource available to a client.

For more information see:

Legislation

  • cash assets (definition) schedule 2 Social Security Act 2018
  • Cash assets and income exemptions schedule 8 Social Security Regulations 2018
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The net equity in a property is:

minus

Net equity in a vehicle/caravan/boat is the amount of money the client would have if they sold their vehicle/caravan/boat after they had paid any debts owing on it.

For example, the client has a boat that has a market value of $4,000. They still owe the bank $1,500, so the net equity would be $2,500. This is ...