1.1.L.60 Liquid funds (SpB)

Definition

For the purposes of SpB, liquid funds means money the person has ready access to.

Examples:

  • payments from previous employment
  • cash on hand
  • money in a bank or other financial institution
  • shares, debentures and other investments
  • other money obtainable at short notice
  • income available but not yet paid
  • instalments of income due within the fortnight from date of lodgement
  • compensation payments
  • income support payments due within the fortnight from date of lodgement
  • FTB (including if payable RA, newborn upfront payment and newborn supplement)
  • carer supplement
  • child disability assistance payment
  • the liquid funds of a partner (1.1.P.85), and
  • bank accounts held on behalf of dependent children (1.1.D.70).

Act reference: SSAct section 23(1)-'income support payment'

Policy reference: SS Guide 3.7.1 SpB - qualification & payability

Last reviewed: 8 February 2021