The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

1.1.A.290 Asset


This definition applies to all payments.


Please refer to the definition of this term in the SSAct.


The Act definition uses the term 'property'. Property includes:

  • personal effects and household contents such as

    • clothing
    • jewellery
    • hobby collections
    • furniture
    • paintings and works of art
    • soft furnishings, and
    • electrical appliances other than fixtures such as stoves and built in items
  • motor vehicles, caravans and boats
  • real estate including holiday homes
  • businesses and farms
  • surrender value of life insurance policies
  • asset tested income stream products
  • holdings of crypto currency and other crypto assets
  • financial investments including
    • cash
    • bank, building society and credit union accounts
    • term deposits
    • bonds and debentures
    • managed investments
    • listed shares and securities
    • loans to family trusts, family members or organisations
    • amounts disposed of without adequate financial return
    • gifts above $10,000 per pension year (pre 1 July 2002)
    • gifts above $10,000 in a single financial year, or gifts exceeding $30,000 over a 5 financial year rolling period (on or after 1 July 2002)
    • bullion
    • investments in superannuation funds, approved deposit funds and deferred annuities after age pension age, and
  • ECs (1.1.E.130) to retirement villages (1.1.R.270) IF less than the extra allowable amount (1.1.E.240) at time of entry.

Act reference: SSAct section 11(1)-'asset', section 9(1)-'superannuation fund', section 23(5A) to (5D) Pension age

Last reviewed: