Hi All,

Unemployment is staring me in the face. I've got savings. Anyone know if you can get centre link payments with savings?

Last time (20 years ago) you could not get newstart until you had spent all of your savings.

Thanks

Unless you have upwards of a few hundred K then possibly no.

Say you have a 100K in savings. They will calculate your likely Interest and deduct it off your fortnightly payment.

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AndyShwartz said..
Hi All,

Unemployment is staring me in the face. I've got savings. Anyone know if you can get centre link payments with savings?

Last time (20 years ago) you could not get newstart until you had spent all of your savings.

Thanks

Just go and apply for it. You have no other option, so you may as well see if its available for you. They said 'no asset test' so hopefully you are covered.

Have a look at this, and I hope that you are covered.


www.servicesaustralia.gov.au/individuals/subjects/affected-coronavirus-covid-19/if-you-need-payment-coronavirus-covid-19