From 1 January 2017, this measure will implement 4 changes designed to simplify means testing arrangements for students and other payment recipients.
Information update: this measure will start on 1 July 2017.
Description of the measure
From 1 January 2017, this measure will implement 4 changes designed to simplify means testing arrangements for students and other payment recipients. These include, aligning the:
- assets test for all Youth Allowance and Austudy recipients, including those partnered to a Social Security or Veterans’ Affairs income support recipient
- means test rules used to assess interests in trusts and private companies for all student payment recipients, including independent Youth Allowance and ABSTUDY recipients
- social security benefit and ABSTUDY income test treatment of gift payments from immediate family members with existing pension rules, and
- Family Tax Benefit (FTB) income test and youth Parental Income Test, and authorising the use of FTB income details for the youth Parental Income Test
Questions and answers
Who is impacted by this measure
Youth Allowance, Austudy and ABSTUDY customers who control income or assets through a trust or private company or are partnered to an income support recipient with significant assets. In addition, income support customers whose payment is currently reduced due to the receipt of regular gifts from immediate family members.
The date this measure will start and finish
This measure will start on 1 January 2017 and is ongoing.