Instructions on how to update your other assets such as personal effects, boats, caravans, life insurance, livestock and motor vehicles.
When updating your income and assets details select Update Other Assets to edit, add or remove other assets details. Other assets include the market value of you and your partner’s:
- motor vehicles
- boats and caravans
- licenses, for example fishing or taxi
- surrender value of life insurance policies
- collections for trading, investment or hobby purpose, and
- household contents and personal effects
Read more about Assets and how they may affect your payment.
Step 1: view your other asset details and choose an action
Select Update Other Assets as part of your updates to income and assets details to view a list of your other assets details.
Tell us about changes to your other assets details by selecting:
- Edit pencil icon to update existing asset details
- Remove bin icon to remove asset details
- Add other asset to add new asset details
Step 2: update your other assets details
Edit existing asset details
Select the edit pencil action to edit the details of an existing asset.
Update the asset value and select Done to finalise.
The updated asset details will appear in your other assets list.
Remove existing asset details
Select the Remove bin action to remove existing assets details.
The removed asset details will be greyed out in your other assets list.
Select Undo if you’ve removed the wrong details.
Add new other assets details
Select Add other asset and enter the details of your new asset item.
Provide the details of your new asset item, including the asset type, net value and your share of the asset.
Select Done to finalise.
Your new asset details will appear in your other assets list.
Select Next when your other asset details are correct and up to date.
Step 3: review and submit
Review the changes made to your other assets and read the declaration.
If you agree with the information in the declaration, check accept this declaration.
Select Submit to confirm your updated other assets details and submit your declaration.
We will provide you a receipt number when your update has been submitted.
We will also tell you if evidence is required to confirm your updates. You will have 14 days to provide evidence to us.
Read our step by step guide and submit evidence or supporting documents using your Centrelink online account.
If you are making changes to other categories as part of your income and assets updates, you’ll be asked to update these next.
Read our step by step instructions on how to update your:
- savings details including any savings, cheque, deeming accounts, cash in hand, money loaned or deposit accounts
- share details
- managed Investments and Superannuation
- real estate including real estate you manage or own
- other income including lump sum payments, commissions, list interests, grants and scholarships, leave payments and regular gifts you may receive
Select Return to my profile to go back to the My profile page.
Select Home to return to your online account homepage
Step 4: sign out
From your homepage you can complete other transactions or select the myGov icon to return to myGov.
For your privacy and security, sign out of your myGov account when you have finished using it.