Policy

This section contains information on determining the rate of income and income definitions.

Aggregation rules

Last amended 17 June 2009

Assessment of income

A person who is a beneficiary of a [glossary:discretionary trust:139], receives income from the trust only when:

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

Assessment of overseas annuities

Overseas annuities do not satisfy the definition of an [glossary:income stream:406] as they do not meet the requirements for prudential regulation.  Overseas annuities are an assessable asset.   

Last amended: 11 November 2008

How long home equity conversion loan is a disregarded asset?

The first $40,000 of an unspent [glossary:home equity conversion:220] loan is a disregarded asset for ninety days only. If after ninety days a person has not spent the loan, the amount is an assessable [glossary:asset:296].    

Last amended: 1 January 2016

Income assessment of defined benefit income streams

Last amended: 8 February 2013

Personal effects and household contents

Last amended: 3 September 2013

Use of payment factors

These payment factors are used in determining the [glossary:annual payment:155] to be paid by a market linked [glossary:income stream:406].

Rules determining the choice of payment factor

The following rules determine which payment factor is to be used: