Unemployment

6 years ago
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AndyShwartz
AndyShwartz
WA
134 posts
WA, 134 posts
28 Mar 2020 8:37pm
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
petermac33
petermac33
WA
6415 posts
WA, 6415 posts
28 Mar 2020 8:44pm
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.
sotired
sotired
WA
605 posts
WA, 605 posts
28 Mar 2020 9:14pm
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.
sotired
sotired
WA
605 posts
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