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 (section 23(1)-'income support payment') due within the fortnight from date of lodgement,
• FTB (including RA if payable),
• baby bonus,
• carer supplement,
• child disability assistance payment,
• the liquid funds of a partner (1.1.P.70), 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

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Last reviewed: 1 October 2010