Income and assets tests for Youth AllowanceOn this page If you are independent a personal income test and assets test will be used to work out how much you can get. If you are not independent, the personal income test and the parental means test apply. Personal income testAs a student or Australian Apprentice on Youth Allowance:
Your income bank balance may increase the amount you can earn before your payment is reduced. As a jobseeker on Youth Allowance
Your working credit balance may increase the amount you can earn before your payment is reduced. Related information Income bankYouth Allowance customers who are full-time students are able to accumulate up to $6,000 of any unused portion of their fortnightly income free area. The accumulated income bank credits can be used to offset any income earned that exceeds the fortnightly income free area. Australian Apprentices can accumulate up to $1,000 of any unused portion of their fortnightly income free area. Working creditYouth Allowance customers who are looking for work have access to Working Credit. This helps you keep more of your Youth Allowance payment if you do any part-time or casual work. It also makes it easier for you to get Youth Allowance back if you have a short-term full-time job. When your total income is less than $48 a fortnight, you will automatically build up working credits. When you have income from work, your credits will reduce the effect that income has on your Youth Allowance payment. You can collect up to 1000 credits, and for every credit you can earn $1 extra before your Youth Allowance payment is reduced. Your credits will also help you to keep more of your payment when you start a full-time job. This means you could get some or all of your Youth Allowance payment in addition to your pay when you first start work. Assets testIf you are independent, the personal assets test will be used to work out how much you can get: Payment may be deferred if your liquid assets exceed:
Hardship provisions may apply to the personal assets test. If you are not considered independent, the family assets test will be used instead. Parental means testThe Parental Means Test is used to work out if parents can financially help their dependent children, whether they are a student, Australian Apprentice or a job seeker. There are three parts to the Parental Means Test:
The Family Assets Test takes into account personal, business and farm assets. A 75% discount is applied to business and farm assets. No payment can be made if your family's assets exceed $547,000. The Parental Income Test includes combined parental taxable income, child support, any fringe benefits received from employers, income from outside Australia and net passive business losses. The Family Actual Means Test may apply if your parents or guardians are self-employed, have income or assets outside Australia, have claimed a business loss, have interests in a trust or company, or are business migrants. Related information[ return to top ] Did you find what you were looking for? You can also try the A-Z list, quick links, search, site help or send us feedback on how to make this a better website. |
Youth AllowanceEligibility Payment and claim information Other information |