Examples of revolving credit payment calculation
Example A - number of months is less than 20
A client applied for Sole Parent Support and Temporary Additional Support on 1 April 2026. Included in the outgoings are payments for 2 single beds bought for the children.
The beds were purchased by credit card on 23 January 2026 for $500.00 each, $1000 total. The balance of the client's credit card at date of application for Temporary Additional Support is $780.00.
Step 1
Purchase price | $1000 |
Divided by 20 | ÷ 20 |
Equals monthly payment amount | $50.00 |
Step 2
Purchase date | 23 January 2026 |
Plus 20 months | + 20 months |
Equals expiry date 1 | 23 September 2027 |
Step 3
Part A
Revolving credit balance at application date | $780.00 |
Divided by monthly payment | $50.00 |
Equals number of months | 15.6 months |
Rounded up to nearest whole number. | 16 months |
Part B
Application date | 1 April 2026 |
Plus | 16 months |
Equals expiry date 2 | 1 August 2027 |
Step 4
You use expiry date 2 (1 August 2027) as this is earlier than expiry date 1 (23 September 2027).
SWIFTT process
You would enter the following information with the applicable allowable cost in the STAWA screen in SWIFTT:
- Expiry date 2 [010827] - (1 August 2027)
- Monthly payment amount from step 1- $50.00
Example B - number of months is more than 20
A client applied for Jobseeker Support and Temporary Additional Support on 1 April 2026. Included in their outgoings are payments for a washing machine that they purchased using their credit card.
They purchased the washing machine on 12 December 2025 for $1,100. The balance of their credit card (that relates to the washing machine) at date of application for Temporary Additional Support is $1,500.
This is the amount that remains to be paid for the washing machine, plus interest charged on that amount, as the client was unable to pay their credit card balance in full by the due date.
Step 1
Purchase price | $1,100 |
Divided by 20 | ÷ 20 months |
Equals monthly payment amount | $55.00 |
Step 2
Purchase date | 12 December 2025 |
Plus 20 months | + 20 months |
Equals expiry date 1 | 12 August 2027 |
Step 3
Part A
Revolving credit balance at application date | $1,500 |
Divided by monthly payment | $55.00 |
Equals number of months | 27.3 months |
Rounded up to nearest whole number. | 28 months |
The number of months is more than 20 so you would use expiry date 1 (12 August 2027).
SWIFTT process
You would enter the following information with the applicable allowable cost in the STAWA screen in SWIFTT:
- Expiry date 1 [120827] - (12 August 2027)
- Monthly payment amount from step 1- $55.00
