Youth allowance how it affects inheritance?

[amanda_kn89]

I'm currently on youth allowance but have just inherited an apartment (no other money or anything). Will this affect my youth allowance if the apartment is worth about $450,000/500,000 (I'm not sure exactly how much.) I have a casual job which i earn about $180 a week from.

[mariandsm]

Hi Amanda. I work in a team at the Australian Government Department of Human Services that responds to enquiries about Centrelink on social media sites like this one.

Your inheritance will affect you differently based on if you are dependent or independent. If you're independent and own a property that you're not living in (i.e. that is not your principal home), the property is an assessable asset for Centrelink purposes. If you're dependent, the property will be looked at as part of the Family Assets Test. There's more info about assets and how they affect your payment here: http://www.humanservices.gov.au/customer...ers/assets

There's also information about how income affects your Youth Allowance here: http://www.humanservices.gov.au/customer...come-tests

You should advise Centrelink of any changes to your circumstances, including income and assets, as soon as possible to ensure you're receiving the correct rate of payment. You can update your details through online services: http://www.humanservices.gov.au/customer...lf-service