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 22.214.171.124 Assessing personal effects, household contents, vehicles & cash