Guideline Assets Test

Assets Test - Simplified Means Test		Guideline: State Number: Effective Date: 23/6/00
(ii) How does the Means Test Review Assets?
Assets include land, cash, shares, debentures or other forms of investment and the assets of any financially associated person unless you need legal aid because you are in dispute with that person.
Assets do not include:
the house you live in, land purchased on which you are building a home or cash saved for a home purchase [as long as the contracts for building or purchase have been entered into] unless your equity in the property is more than the allowable amount for your area in the Schedule 1 guidelines; household furniture and effects unless of exceptional value; tools of the trade unless of exceptional value; your car or cars, unless you have more than $11,500.00 equity in it; or
Subject to specific guidelines in family law matters, the value of any property involved for which you want legal aid.
You may be asked to pay an initial contribution if your assessed assets are greater than:
$740.00 if you do not have a financial association with another person; $1490 if you have a financial association with another person.
Assessing assets if you are a farmer or small business operator
If you are a farmer or a small business operator, you are allowed equity in assets in the farm or business up to the limit set by the Department of Social Security from time to time.
This means that on the equity in the farm or business above the follow limits is assessed in the assets test:
Equity in a farm or business [using the DSS Assets Test categories]
	single home owner	$118,000.00
	single non-home owner	$202,000.00
	married home owner	$167,000.00
	married non-home owner	$251,000.00
	Total equity in motor vehicles	$11,000.00
	NOTE : "Homeowner" refers to a person who owns or is paying off the house in which they live.

See Income Test

Page Last Revised :Friday, November 14, 2003