Skip to main content
CLIK logo
CLIK
  • CLIK

  • Menu
  • Legislation
    • Legislation
    • Service Eligibility Assistant
  • Compensation & Support
    • Compensation & Support
    • Compensation & Support Policy Library
      • Compensation & Support Policy Library
      • Keyword Index
    • Compensation & Support Reference Library
  • Rehabilitation
    • Rehabilitation
    • Rehabilitation Policy Library
    • Keyword Index
  • Military Compensation
    • Military Compensation
    • MRCA Info
    • SRCA Info
  • Health
    • Health
    • Health Policy Library
  • SOP Information
  • Reports & Studies
  • Glossary
  • Legislation
    • Service Eligibility Assistant
  • Compensation & Support
    • Compensation & Support Policy Library
      • Keyword Index
    • Compensation & Support Reference Library
  • Rehabilitation
    • Rehabilitation Policy Library
    • Keyword Index
  • Military Compensation
    • MRCA Info
    • SRCA Info
  • Health
    • Health Policy Library
  • SOP Information
  • Reports & Studies
  • Glossary

Department of Veterans' Affairs CLIK

You are here

  • Home
  • Compensation and Support Policy Library
  • Part 10 Types of Income and Assets
  • 10.2 Assets

10.2 Assets

Document
Print version    Send email

In this chapter

  • 10.2.1 Overview of Assets
  • 10.2.2 Determining the Value of an Asset
  • 10.2.3 Disregarded Assets
  • 10.2.4 Assessing Personal Assets and Investments

This chapter contains information on various types of assets that affect a person's income support payments. It includes information on disregarded assets, the concept of assets value and determining the value of an asset.

See Also

Assets

Chapter 9.1 Income and Assets Test Principles

Chapter 9.2 Residential Situation

Chapter 9.5 Deeming Provisions

Chapter 3.1 — 0 Financial Hardship

Chapter 9.6 Deprivation of Income and Assets

Chapter 10.1 Ordinary Income

Chapter 10.3 Business Structures and Trusts


Previous up Next

Part 10 Types of Income and Assets

  • 10.2 Assets
    • 10.2.1 Overview of Assets
    • 10.2.2 Determining the Value of an Asset
      • Valuation of Assets
      • Assessing Assets with Encumbrances and Loans
      • Assessing Assets where Beneficial Interest Arises
      • Value of Assets not Readily Accessible and Asset-tested Income Streams
    • 10.2.3 Disregarded Assets
      • Disregarded Assets Relating to the Principal Home
      • Disregarded Assets Relating to Interests
      • Disregarded Assets Relating to Deceased Estates and Funeral Expenses
      • Disregarded Assets Relating to Refund of Accommodation Bond
      • Other Disregarded Assets
      • Legally Irrecoverable Loans or Debts
    • 10.2.4 Assessing Personal Assets and Investments
      • Assets Value of Personal Effects, Household Contents, Vehicles and Cash
      • Assets Value of Bank, Building Society and Credit Union Accounts
      • Assets Value of Fixed Deposits, Bonds, Debentures and Securities
      • Assets Value of Managed Investments
      • Assets Value of Shares in Public Companies
      • Assets Value of Property and Real Estate
      • Assessing Loans and Guarantor Arrangements
      • Assessing Failed Loans and Debts
      • Assessing Life Insurance Policies
      • Assessing Interests in a Deceased Estate
      • Assessing Home Equity Conversion Loans
      • Assessing Private Annuities
      • Assessing Overseas Annuities
  • 10.1 Ordinary Income
    • 10.1.1 Overview of Ordinary Income
    • 10.1.2 Income Rates and Definitions
      • Determining the Rate of Income for Pensions
      • Rate of Income - Couples, Blind Pensioners and Children
    • 10.1.3 Income Exempt from Assessment
      • Exempt Income under the VEA
      • DVA Income Exempt from Assessment
      • Exempt Lump Sums
        • Exempt Lump Sum Determinations DSS/Other
        • Exempt Lump Sum Determinations under the VEA
    • 10.1.4 Income from Employment
      • Overview of Income from Employment
      • Income Received to Cover Expenses
      • Assessment of Allowances
      • Assessment of Salary Sacrifice Amounts
      • Evidence of Earnings
      • Annual Rate
      • Notification Obligations and Date of Effect
      • Specific (Periodic) Reviews
      • Pension Reassessment at the End of the Review Period
      • Regular Earnings Income
      • Variable Earnings Income
      • Single Period or One-off Earnings Income
    • 10.1.5 Income from Overseas, including Pensions, War Pensions, War Widow/er's Pension and Restitution Payments
      • Income from Foreign Pensions
      • Foreign Income Exchange Rates
      • Overseas War Pensions
      • Overseas War Widow's/Widower's Pensions
      • Restitution Payments - National Socialist (Nazi) Persecution
      • Restitution Payments - Germany and Austria
      • Restitution Payments - Netherlands
      • Restitution Payments for POW Japan - Commonwealth and Allied Countries
    • 10.1.6 Income from Property
      • Home Equity Conversion Agreement
      • Income from Sale of Property - Payments Deferred or by Instalments
      • Income from Real Estate
      • Income from Boarders or Lodgers
      • Disposal/Deprivation of Rental Income
    • 10.1.7 Income from Other Sources
      • Income from Lottery Winnings
      • Income from Property Settlements and Life Interest
      • Income from Life Insurance Products
      • Income from Personal Injury Schemes
      • Income from Education Scholarships, Prizes and Allowances
      • Income from Training Scholarships
      • Income from Gifts, Legacies and Royalties
      • Income from Private Companies and Trusts
      • Income from Private Annuities
      • Income from Overseas Annuities
      • Income from Other Investments
    • 10.1.8 Work Bonus
      • 10.1.8.1 Meaning of work bonus income
        • Meaning of employment income
        • Meaning of gainful work income
      • 10.1.8.2 Work Bonus Bank
      • 10.1.8.3 Veterans' Vocational Rehabilitation Scheme
  • 10.3 Business Structures and Trusts
    • 10.3.1 Overview of Business Structures and Trusts
    • 10.3.2 Assessing the Income and Assets of Sole Traders and Partnerships
      • General Provisions for Sole Traders and Partnerships
      • Assessment of Income for Sole Traders and Partnerships
      • Allowable Deductions for Sole Traders and Partnerships
      • Assessment of Business Losses for Sole Traders and Partnerships
      • Assessable Income for Partnerships Only
      • Summary of Assessable Income for Sole Traders and Partnerships
      • Assessment of Assets for Sole Traders
      • Assessment of Assets for Partnerships
      • Summary of Assessable Assets of Sole Traders and Partnerships
      • Summary of Assessable Assets of Sole Traders Only
      • Summary of Assessable Assets of Partnerships Only
    • 10.3.3 Assessing the Income & Assets from Private Companies pre 01/01/2002
      • Assessable Income from Private Companies pre 01/01/2002
      • Assessable Assets from Private Companies & Unlisted Public Companies
      • Treatment of Assessable Assets - Private & Unlisted Public Companies - Not Assessed under New T & C Rules
    • 10.3.4 Assessing the Income & Assets from Trusts pre 01/01/2002
      • General Provisions for Trusts pre 01/01/2002
      • Assessable Income from Discretionary Trusts pre 01/01/2002
      • Assessable Assets from Discretionary Trusts pre 01/01/2002
      • Assessable Income from Non-discretionary Trusts pre 01/01/2002
      • Assessable Assets from Non-discretionary Trusts pre 01/01/2002
      • Summary of Assessable Income from Trusts pre 01/01/2002
      • Assessable Income and Assets from Statutory Trusts pre 01/01/2002
      • Other Trust Matters pre 01/01/2002
    • 10.3.5 Assessing the Income & Assets from Primary Production
      • Assessable Income & Assets from Primary Production
      • Primary Production Aggregation Assessment for Sole Traders & Partnerships
      • Primary Production Aggregation Assessment for Companies & Trusts
    • 10.3.6 Attribution Guidelines for Private Trusts & Private Companies - From 01/01/2002
      • Designated Private Company
      • Designated private trust
      • Controlled Private Company
      • Controlled Private Trust
      • The Source Test
      • Associate Rule
    • 10.3.7 Attribution Percentage & Derivation and Attribution Period - From 01/01/2002
      • Attribution Percentage
      • Derivation & Attribution Period
    • 10.3.8 Other Trust Matters - From 01/01/2002
      • Discretionary Trust, Rural Succession Trust, and Fixed Unit Trust
      • Testamentary Trust
      • Life Interest and Remainder Interest
      • Protective Trust
      • Constructive Trust and Implied Trust
      • Excluded Trust
      • Assessable Income & Assets from a Court-Ordered (Statutory) Trust
    • 10.3.9 Assessing the Assets of a Private Trust or Company - From 01/01/2002
      • Valuation of the Assets of a Designated Private Trust & Company
      • An Excluded Asset of a Controlled Private Trust or Company
      • Security of Tenure - Home owned by a Private Company or Trust
      • Homeowner & Non-Homeowner where Home is owned by a Private Company or Trust
    • 10.3.10 Liabilities of a Private Trust or Company - From 01/01/2002
      • Non-Recognised Liabilities of a Controlled Private Company or Trust
      • Recognised Liabilities of a Controlled Private Company or Trust
      • Apportioning a Liability of a Controlled Private Company or Trust
    • 10.3.11 Assessment of Capital Injection to a Private Trust or Company - From 01/01/2002
      • Capital Injection in Return for Equity in a Private Trust or Company
      • Gifting to a Private Trust or Company
      • Gifting private trust units where the only trust asset is the pensioner's principal home
    • 10.3.12 Assessing the Income of & Distributions from a Private Trust or Company - From 01/01/2002
      • Income Attribution
      • Allowable & Non-allowable Income Deductions
      • Distribution of the Capital of a Private Trust or Company
      • Distribution of capital on wind-up of a private trust or company
      • Distribution of the Income of a Private Trust or Company to an Attributable Stakeholder
      • Retained Profits and Adjustments for Non-Allowable Deductions
      • Distribution of the Income of a Private Trust or Company to a Non-attributable Stakeholder
    • 10.3.13 Reassessment & Overpayments for a Private Trust or Company - From 01/01/2002
      • Reassessment of a Controlled Private Trust or Company
      • Examples of Possible Reasons for a Reassessment
      • Overpayment relating to a Controlled Private Trust or Company
    • 10.3.14 Resignation from a Private Trust or Company
      • Resignation from a Controlled Private Trust or Company on or after 1 January 2002
      • Resignation from a Controlled Private Trust or Company before 1 January 2002
    • 10.3.15 Deprivation Provisions for Private Trusts or Companies
      • Disposal of Assets to a Private Trust or Company before 1 January 2002
      • Disposal of Assets to a Private Trust or Company on or after 1 January 2002
      • Disposal of the Assets of a Private Trust or Company on or after 1 January 2002
      • Concessions for a Pensioner Surrendering Control of a Private Company or Trust before 1 April 2002
    • 10.3.16 Primary Production Private Trust & Company Issues - From 01/01/2002
      • Aggregation Assessment of a Controlled Primary Production Private Trust & Company
      • Qualification Provisions for the Primary Production Concession
      • Example of Primary Production Concession & other Related Issues
      • Other Primary Production Issues
    • 10.3.17 Additional Privacy Guidelines for a Private Trust or Company
    • 10.3.18 Assessment - Special Disability Trusts
      • Overview of Assessment - Special Disability Trusts
      • Eligibility of the Principal Beneficiary
      • Trust Purpose
      • Assessment of Income and Assets for SDT
      • Gifting to Special Disability Trusts
    • 10.3.19 Rules and Requirements - Special Disability Trusts
      • Overview of Rules and Requirements - Special Disability Trusts
      • Trustee Requirements
      • Transitional Trusts
      • Reporting Requirements
      • Non-complying SDT
      • Waiver
      • Investment Rules
      • Expenditure Rules
      • Audit Requirements
      • Obligations in Relation to Special Disability Trusts
  • 10.4 Superannuation Funds
    • 10.4.1 Overview of Superannuation Funds
    • 10.4.2 Description of Superannuation
      • What is Superannuation?
      • Types of Superannuation Funds
    • 10.4.3 Assessment of Superannuation Benefits
      • General Provisions for Assessing Superannuation
      • Early Release of Superannuation Benefits
      • General Provisions for Assessing Withdrawals of Superannuation Benefits
      • Treatment of Non-Pensioner Partner's Superannuation Investments
  • 10.5 Income Streams
    • 10.5.1 Overview of Income Streams
    • 10.5.2 Description of Income Streams
      • Asset-Test Exempt Income Streams - Lifetime
      • Asset-Test Exempt Income Streams - Life Expectancy
      • Asset-Test Exempt Income Streams - Market Linked
      • Asset-Test Exempt Income Streams - Defined Benefit
      • Asset-Tested Income Streams
      • Asset-tested Income Streams - Lifetime
      • Family Law Affected Income Streams
    • 10.5.3 General Provisions for Assessing Income Streams
      • Additional Rules Regarding Commutation
      • Exemptions from the Income Stream Provisions
      • Determining what Proportion of an Asset Test Exempt Income Stream is Exempt
      • Other Rules Regarding Income Streams
    • 10.5.4 Income and Assets Assessment of Income Streams
      • Income Assessment of Defined Benefit Income Streams
      • Examples of Defined Benefit Income Stream Assessment
      • Income Assessment of Purchased Income Streams
      • Assets Assessment of Defined Benefit and Purchased Income Streams
      • Means Test Assessment of Asset-tested Income Streams - Lifetime
    • 10.5.5 Special Provisions Regarding Self Managed Superannuation Funds and Small APRA Funds
      • Description of Self Managed Superannuation Funds and Small APRA Funds
      • Additional Documentation Required from Self Managed Superannuation Funds and Small APRA Funds
      • Return of Purchase Price and Deprivation
      • Assessment where Fund Closes or is in Financial Difficulty
    • 10.5.6 Special Provisions Regarding Family Law Affected Income Streams
      • General Provisions for Family Law Affected Income Streams
      • Percentage Payment Splits - Asset Test Exempt Income Streams
      • Percentage Payment Splits - Asset-tested Long Term Income Streams
      • Percentage Payment Splits - Allocated Products and Market Linked Income Streams
      • Percentage Payment Splits - Defined Benefit Income Streams
      • Percentage Payment Splits - Lifetime Income Streams
      • Base Amount Payment Splits - Asset-test Exempt Income Streams
      • Base Amount Payment Splits - Asset-tested Long Term Income Streams
      • Base Amount Payment Splits - Allocated Products and Market Linked Income Streams
      • Base Amount Payment Splits - Defined Benefit Income Streams
      • Base Amount Payment Split - Lifetime Income Streams
    • 10.5.7 Life Expectancy Tables, Pension Valuation Factors and Payment Factors
      • Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/01/2015
      • Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/01/2010 to 31/12/2014
      • Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/01/2005 to 31/12/2009
      • Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/01/2000 to 31/12/2004
      • Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/01/96 to 31/12/99
      • Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/05/93 to 31/12/95
      • Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/09/88 to 30/04/93
      • Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/07/83 to 31/08/88
      • Pension Valuation Factors for Defined Benefit Income Streams
      • Payment Factors for Market Linked Income Streams
      • Payment Factors for Allocated Income Streams
  • 10.6 Maintenance Income
    • 10.6.1 Overview of Maintenance Income
    • 10.6.2 Child and Spousal Maintenance Income
    • 10.6.3 Documentary Requirements - Spousal Maintenance Agreements
    • 10.6.4 Assessment and Review of Maintenance
    • 10.6.5 Capitalised Maintenance

About CLIK

The Consolidated Library of Information and Knowledge (CLIK) contains all the legislative, policy and reference material used by DVA staff in providing service to the clients of the Department of Veterans' Affairs.

How to use CLIK

  • User Guide
  • Search Tools
  • Help

Follow DVA

Sitemap

Compensation & Support

  • Compensation & Support Policy Library
  • Compensation & Support Reference Library

Military Compensation

  • MRCA Info
  • SRCA Info

Health

  • Health Policy Library

Reports, Studies & Research Papers Library

  • Australian National Audit Office Reports
  • Defence Reports
  • DVA Reports
  • Other Australian Government Reports
  • Parliament Reports
  • Repatriation Medical Authority Reports

SOP Information

  • SOPs and Supporting Information – alphabetic listing
  • SOPs and Supporting Information – by body system
  • Non-SOP Investigations
  • Declarations by the RMA
  • Other SOP policy and resources
  • Guide to using SOPs

Rehabilitation

  • Rehabilitation Policy Library
  • Keyword Index

Disclaimer

Information provided on this website is prepared by the Department of Veterans’ Affairs (DVA) for general information only and does not provide professional advice on a particular matter. This information reflects policy made by DVA and is used in the assessment of claims. It does not reflect the views or opinions of any other government body or authority.

While we make every effort to ensure that the information on this site is accurate and up to date we accept no responsibility whether expressed or implied for the accuracy, currency and completeness of the information.

Before relying on the material you should independently check its relevance for your purposes, and obtain any appropriate professional advice.

For reasons of succinctness and presentation, the information provided on this website may be in the form of summaries and generalisations, and may omit detail that could be significant in a particular context, or to particular persons.

Important legislative change

Note that the Safety, Rehabilitation and Compensation (Defence-related Claims) Act 1988 (DRCA) commenced on 12 October 2017.

As a result of this legislative change, the Department is updating its published information, including hardcopy and website content, as well as CLIK. While this process is well underway, it will take some time before all changes are complete. In the meantime, references within CLIK to the Safety, Rehabilitation and Compensation Act 1988 or SRCA should now generally be understood to be references to the new DRCA (with the exception of intended historical references to SRCA). It is important to note that the same provision references (i.e., sections, subsections and paragraphs) from the SRCA have been retained in the DRCA.

We appreciate your patience during this change process.

Accessed: 3 October 2023
URL: https://clik.dva.gov.au/compensation-and-support-policy-library/part-10-types-income-and-assets/102-assets