Emergency Benefit : Contents
Cash assets
Cash assets mean the assets of the client and their partner (if any) 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 and term deposits with any bank, friendly society, credit union, or building society
- money invested with or lent to any bank or other financial institution
- mortgage investments and other long term loans
- shares, stocks, debentures, bonus bonds, and other bonds
- the client's share in any partnership
- the net equity held in any property or land not used as a person's home
Cash assets do not include
- a caravan, boat or other vehicle with a net equity less than $2,000, or which is used by the person or a member of their family for day to day accommodation
- a motor vehicle principally used by the client for private use
- the home property and land on which it is situated
- Christchurch mosques attack support payments
- Crown funds provided directly to clients to purchase Support Services and Direct Disability Support payments
- funds locked into KiwiSaver and other retirement scheme accounts
- Information share Child Support payments currently being charged as income
- MSD lump sum payments for the first 12 months after payment is made
- payments made by the Canterbury Earthquake Commission (Red Cross)
- payments from the Earthquake Commission and insurance companies for:
- rebuilding or repairing the damage to homes caused by the Canterbury Earthquake 2010 (including aftershocks)
- the costs of renting temporary accommodation because people can no longer live in their home due to damage from the Canterbury Earthquake 2010 (including aftershocks)
- payments made on or after 20 June 2011 by the Crown as a payment or part payment for the purchase price for any property or land in the red zone under a Government offer that has been accepted by the homeowner
- personal effects
- Payments of Accommodation Supplement arrears due to a system processing error from 1993 to 2014 (and any interest earned on the payment), for the first 12 months from when the payment was received
- Payments of arrears to Special Benefit clients better off on Temporary Additional Support for the first 12 months after payment is made
- Payments to clients whose Kāinga Ora tenancy was terminated due to methamphetamine contamination for the first 12 months after payment is made
- Residential Care Subsidy historic review refunds for the first 12 months after the payment is made
- Severe weather event payments for the first 12 months from when payment is received (and any interest earned on the payment)
- specified Ex gratia and compensation payments
- FamilyBoost Tax Credit payments for the first 12 months after payment is received
- Bonus Payment for the first 12 months after the payment is made
A bank overdraft is not considered a cash asset or resource available to a client.
Discretion to disregard assets
In exceptional circumstances you can disregard some of the client's cash assets see:
For more information see:
Legislation
- Direction in relation to Emergency Benefit and Benefits on Ground of Hardship
- cash asset (definition) schedule 2 Social Security Act 2018
- Cash assets and income exemptions schedule 8 Social Security Regulations 2018
