These definitions apply to all payments subject to assets testing provisions.
Cash includes the following:
- cash on hand, other than that held to meet day-to-day expenses or pay outstanding bills, AND
- on-call deposits with banks, credit unions and building societies.
The following are NOT cash:
- fixed term deposits,
- bank and commercial bills,
- government and semi-government bonds, and
- fixed interest securities.
Policy reference: SS Guide 220.127.116.11 Assessing Personal Effects, Household Contents, Vehicles & Cash