Young Parent Payment : Contents
Paying money left on the payment card
The money left on the payment card is paid as a lump sum directly to the young person.
Twelve-month asset and income exemption
For the first 12 months, the lump sum payment is not chargeable income or a cash asset when assessing qualifications for other benefit assistance under the Social Security Act 2018.
After 12 months any money left is treated as a cash asset, and any interest generated by the cash asset is treated as chargeable income.
For more information see:
- Core policy Definition of income
Legislation
- Cash assets and income exemption schedule 8 Social Security Regulations 2018
- General definition of income clause 3, Part 2, Schedule 3 Social Security Act 2018
