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Liquid Assets Waiting Period

Video & Multimedia
Rachel Siewert 9 Feb 2011
http://www.youtube.com/v/CTLpYbR7vgc?fs=1&hl=en_US

The Australian Greens have questioned the Government’s commitment to a review of stimulus measures which increased the thresholds for income support recipients subject to the liquid assets waiting period.
The amendment was part of the Greens negotiations with the Government which helped deliver the economic stimulus package during the global financial crisis. The changes doubled the threshold for liquid assets to $5000 for singles without dependents or $10,000 for others for a two year period.

Liquid assets are defined as cash and bank deposits, including term deposits, shares and so on. Applicants can be required to serve a waiting period of between and one and thirteen weeks if liquid assets exceed the established thresholds.

The changes doubled the threshold for liquid assets to $5000 for singles without dependents or $10,000 for others for a two year period from 1 April 2009 to 31 March 2011.

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