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Table 4 Investment Income

Type of Income

What to Verify

What to request

Who to contact for information

Financial Institution Income

  1. Type(s) of investment.
  2. Name & Branch of Institution.
  3. Date and amount(s) invested.
  4. Dates and amounts of any increases to initial amount.
  5. Dates and amounts of any interest paid (& where paid to if required).
  6. Dates and changes in interest rates or changes in deeming rate.

A written statement of the investment containing all the information in the What to Verify box.

A departmental questionnaire for these type of cases may be sent.

Account books, copies of statements, investment certificates.

Signed and dated income tax returns which may identify investments, if the above is not available.

The pensioner(s) may have all the certificates and details you require so contact them first.

Contact the financial institution direct, and request they complete the questionnaire or provide a statement covering all details required.

The ATO can provide a summary of the tax returns.

Managed Investments

What to verify or request may depend on whether pre-extended deeming or post-extended deeming applies.

  1. Type of investment.
  2. Date and amount of initial investment.
  3. Dates and amounts of any increases or reductions to amounts.
  4. Is/was the investment unitised, and if so have there been any changes to the number of units held?
  5. What were the unit values and % or CPU rates?
  6. Is it a saved investment? If so, what was the capital growth?

A completed copy of D0523 Income Support Pension Claim – Investment Form B

Copies of investment certificates.

Details of any withdrawals made and the value of the investment immediately prior to each withdrawal.

The pensioner(s) may have all the details you require on certificates so contact them first.

If not, or if you require verification of pensioner's information, then contact the fund manager, or the pensioner's financial planner.

The Investment Database Unit will be able to help you to identify the fund(s) and how to assess the income.

Information on unit values, % or CPU rates is available via PIPS – under the VIEW/MI history.


  1. Type of shares.
    The company name and share security type should appear on the pensioner's share certificate or Australian Stock Exchange electronic clearing house system (CHESS) statement.
  2. Who owns the shares?
  3. Date(s) shares obtained.
  4. Number of initial shares obtained.
  5. Date and amount of dividends received (or amount of shares in lieu), or the % return.
  6. Date and number of additional shares purchased, or any shares sold.

Dividend and share certificates or CHESS statements - both for the initial period and any subsequent certificates or statements issued for purchase/sale/shares in lieu of dividend.

The pensioner(s) should have all the certificates or CHESS statements, but if some are missing or there appears to be a discrepancy, contact the company.

The company can provide a schedule with all the share details including when dividends paid and how much was paid.

As a last resort contact the pensioner's stockbroker or accountant for the details.

Information about return/dividends is also available via PIPS – under the VIEW/SH history.

Income Streams

  1. Paying company.
  2. Type of income stream.
  3. Is the income stream section 5JA VEA or section 5JB VEA compliant?
  4. Date commenced.
  5. Amount initially invested.
  6. How often and gross amount paid. (i.e. annually, monthly etc).
  7. Dates and amounts of increases.
  8. The relevant number and residual capital value.

A trust deed under which the income stream is paid (for SMSF or SAF).

Copy of contract/statement.

A statement containing the details of the income stream if the above not available.

DO563 – Income Stream Schedule for Veterans' Affairs assessment purposes sent to a financial product provider to collect information about a pensioner's income stream.

If the pensioner is claiming the income stream is assets-test exempt, a current Actuarial Certificate prepared in accordance with the Institute of Actuaries (Australia) Guidance Note 465 (GN 465), stating that a SMSF or SAF has a high probability of meeting the income stream payments specified in the contract, trust deed or governing rules.

Pensioner(s) should have copy of the income stream schedule so contact them first.

Paying company can provide a copy of income stream schedule or a statement in lieu.

Overseas Shares and Managed Investments

  1. Type of investment/share.
  2. Date and amount of initial investment.
  3. Number of shares/units.
  4. Dates and amounts of any increases/ reductions to any amounts or dividends received.
  5. Fees paid (entry and exit).

Certificates stating initial investment, and any additions.

Contact the pensioner or their accountant.

The Investment Database Unit can help establish and gain what you require for managed investments and shares.

Notes on table 4

The rules for income assessments still apply when investigating an overpayment. When assessing managed investments, private superannuation, immediate/deferred annuities, approved deposit funds, allocated pensions, check to verify the types of investments and how they were assessed historically as well as how DVA assesses them now. The historical assessment is especially important as it may apply to periods of the overpayment. The Investment Database Unit (IDU) will be able to assist you, as will Income Support Training Officers and supervisors.

Deemed interest was introduced in March 1991 and applied to money held as cash or in deposits. Exemptions to deeming were pensioners over 80, those in Nursing Homes (initially, but this was later revoked), accounts held overseas and other exemptions made by the Minister. From 21 August 1991 deeming was extended to include deprived assets, loans, bonds and debentures.

Further changes to deeming were made from 1 July 1996. More information is available in DI C08/96 and C44/96. Changes were also made on 4 April 2002 in relation to the deeming of a financial asset that is also an unrealisable asset. This was an unintended consequence flowing from the introduction of the extended deeming rules in 1996. More information on this topic is available in DI C21/2002. If you are still unclear whether a financial asset may be considered unrealisable, or whether the person satisfies the conditions of financial hardship please contact the Income Support Policy Section by emailing NAT Policy Advisings Income Support.