Increased access to youth allowance
Minister for Community Services Larry Anthony today said changes to the Youth Allowance assets test will help more 7,200 young people and their families.
“The changes to be introduced from 1 January 2001 will see 75% of the value of a family’s interest in the assets of a farm or business to be disregarded instead of the previous 50%.
“This change will mean that young people from families with farm or business assets worth up to $1.7 million may qualify for Youth Allowance, subject to parental means testing.
“An estimated 7,200 young people will benefit from the increase to the family assets test limit, with the majority of these young people coming from rural or regional areas.
“Young people who currently receive Youth Allowance may also be eligible for the higher rate of the Away from Home payment, the Student Financial Supplement Scheme, Fares Allowance and the Student Income Bank.
“Many of the young people who will now have access to Youth Allowance come from families who are asset rich but have limited income.
“This Government is to giving young people in rural and regional areas every opportunity to further their studies.
“I encourage families who have previously been ineligible for the Youth Allowance to contact their local Centrelink office or call 132 490,” Mr Anthony said.