Centrelink & assets... (1 Viewer)

[Seraphina]

I'm in Year 12,and receiving YA ( unreasonable to live at home-comes to around 370 a fortnight).I have maybe $30 in my bank account as the money I get each fortnight goes to my aunt in board.I do not have a job.I recently found out that I have a trust with the NSW Public Trustee (compensation) of around 30 000.I plan to inform Centrelink as soon as it is received.My question is,to what extent will this affect my YA,particularly as the money is not going to be spent ? Thanks to anyone who can help.I really don't know very much about how any of it works (obviously )

 

[zehurricane]

30 000 dollars?... i don't think you get any or really little YA.... I think you need to have below $5000 to receive the full pay.

But rather then getting all the advice from BoS, Might as well go centrelink and ask... My info might be wrong but who know..

 

[Optimus Prime]

I have like $50,000 in my name and it's not affected.

 

[LaZy_KoReAn]

I have like $50,000 in my name and it's not affected.

yes,
after being hassled on bos, i decided to do more research to see if this is correct.

Assessable assets
Assets test

the 5,500 (liquid cash) for singles deferred payment for 12 weeks or so only applies for initial applications to make sure those in quick need get paid within 3 weeks, it doesnt mean you cannot get the payments it just means you are on waiting list, but once the waiting list is over you should be getting correct pay. centrelink confirmed this over the telephone twice (but safe to call them first) also i am not sure if it is 12 weeks anyway because it states "may" not "will" be deferred,i had like 12k when i applied and they let granted me my youth allowance, i guess is just a way for them to prioritise their list.

best to check with centrelink and advise them within 14 days soon as there are any changes, heck i call centrelink just to let them know my hours of study etc. always good to be on the safe side.

dont take any advise from people on bos, without contacting centrelink yourself some advice is rubbish or 'opinions' but not facts.

 

[babikakez]

dont take any advise from people on bos, without contacting centrelink yourself some advice is rubbish or 'opinions' but not facts.

well you've sure done a lot of asking over the last few weeks/months...