Cash assets

Cash assets mean assets of the client and their partner (if any) that can easily be converted into cash.

For social housing, 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
• money withdrawn from a KiwiSaver scheme
• mortgage investments and other long term loans
• pre-paid funeral expenses (in some circumstances)
• proceeds from the sale of the family home
• shares, stocks, debentures, Bonus Bonds and bonds
• the client's share in any partnership

Cash assets do not include:

• personal effects
• motor vehicle principally used by the client for private use
• a home property and land on which it is situated
• 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
• 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
• Māori land when the title is in tribal trust and individual ownership cannot be identified, the client cannot realise or readily convert the land into a cash asset
• MSD lump sum payments for the first 12 months after the payment is made
• Payments of Accommodation Supplement arrears due to a system processing error from 1993 to 2014
• Payments of arrears to Special Benefit clients better off on Temporary Additional Support for the first 12 months after the payment is made
• Payments to clients whose Kāinga Ora tenancy was terminated due to methamphetamine contamination for the first 12 months after the payment is made
• Residential Care Subsidy historic review refunds for the first 12 months after the payment is made
• 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

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

Canterbury earthquake related payments

Payments made by the Crown, Earthquake Commission, insurance companies or the Canterbury Earthquake Commission (Red Cross) relating to the Canterbury earthquake are generally excluded for the first 12 or 24 months following the date the client got the payment.

When a client is getting information share Child Support payments, MSD must determine whether the payments are considered a cash asset or assessable income.

The cash asset exemption for the period the information share Child Support is being charged for income-tested financial assistance does not apply to social housing.

In most cases, Child Support will be considered assessable income rather than a cash asset because it's paid for an income related purpose, and is likely to be used over the payment period.