Contents
Definition of income : Contents

Income from assets

Although main benefits do not generally have an asset test, the income from any asset may affect the client's rate of payment and entitlement to a benefit.

An asset is cash or property owned by a person which has a realisable value, which could include but is not limited to:

  • money saved or invested
  • money invested in securities, bonds or debentures
  • money invested in shares
  • money loaned to another person or advanced as a mortgage
  • real estate
  • copyright

When assets owned by a client are not producing income, consider whether the client is depriving themselves of income. For more information see:

For more information on Main benefits and Extra help that have a specific asset test see:

Legislation

  • MSD may refuse or cancel benefit for failure to take reasonable steps to obtain maintenance section 202 Social Security Act 2018
  • MSD may refuse or cancel benefit if person not ordinarily resident in New Zealand section 204 Social Security Act 2018
  • Income and liabilities schedule 3(2) and (16) Social Security Act 2018
Top