Liquid Assets Waiting Period — increasing self-reliance

This measure will increase the maximum Liquid Assets Waiting Period from 13 weeks to 26 weeks from 20 September 2018.

Information update: This Budget measure is subject to the passage of legislation.

Description of Measure

This measure will increase the maximum Liquid Assets Waiting Period from 13 weeks to 26 weeks from 20 September 2018.

Currently a person’s liquid assets (such as cash on hand, bank account balances, shares or term deposits), if high enough, will affect how long they need to wait before receiving certain payments.

The waiting period starts to apply at $5,500 for a single person with no dependent children and $11,000 for couples or a single person with a dependent child.

Under this measure, the maximum 26 week waiting period will apply where a person’s liquid assets reach $18,000 for a single person with no dependent children and $36,000 for couples or a single person with a dependent child.

Questions and answers

Whom does this measure affect?

This measure will affect new claimants of Newstart Allowance, Sickness Allowance, Youth Allowance and Austudy.

What date will this measure start and finish?

The measure will start on 20 September 2018 and is ongoing.

Page last updated: 15 May 2017

This information was printed Tuesday 27 June 2017 from humanservices.gov.au/corporate/budget/budget-2017-18/jobseekers/liquid-assets-waiting-period-increasing-self-reliance It may not include all of the relevant information on this topic. Please consider any relevant site notices at humanservices.gov.au/siteinformation when using this material.