Young Parent Payment : Contents
Cash assets
Cash assets mean the assets of the young person 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 net equity held in any property or land not used as the person's home and
- the young person's share in any partnership
Cash assets do not include
- a caravan, boat or other vehicle with a net equity less than $2,000, or is used by the young person or a member of their family for day to day accommodation
- motor vehicle principally used by the young person for private use
- personal effects
- the home property and the land on which it is situated
- 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 facility is not considered a cash asset or resource available to a young person.
Generally, ex gratia payments and compensation payments made by the Crown are excluded for the first 12 months following the date the young person received the payment. For more information see:
In exceptional circumstances you can disregard some of the young person's cash assets see:
