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ContactIncome and asset limits
These are our income and asset limits for public housing assistance and bond loans in Victoria. They apply from 20 September 2009.
Recurring homelessness and Special housing needs (public housing)
The income limits are:
| Household | Income per week |
|---|---|
| Single person | $452 |
| Couple, no dependants | $753 |
| Family (one or two parents) with one dependent child | $787 |
| Family (one or two parents) with two dependent children | $821 |
| Family (one or two parents) with three dependent children | $855 |
| Family (one or two parents) with four dependent children | $889 |
| Family (one or two parents) with five dependent children | $923 |
| Family (one or two parents) with six dependent children | $957 |
| Family (one or two parents) with seven dependent children | $991 plus $34 for extra child |
The asset limit is $1,300 if you applying for a one or two bedroom property or $2,100 if you are applying for a property with three or more bedrooms.
Supported housing and General housing (public housing)
The income limits are:
| Household | Income per week |
|---|---|
| Single person | $452 |
| Couple, no dependants | $753 |
| Family (one or two parents) with one dependent child plus $89 for each extra child under 13 years plus $120 for each extra child aged 13 to 17 years |
$787 |
The asset limit for Supported housing and General housing is $30,000.
The asset limit goes up to $60,000 for households who need major or full disability modifications. Please ask us for further information about this.
Bond Loans
The income limits are:
|
Household |
Income per week |
|---|---|
| Single person | $452 |
| Couple, no dependants | $753 |
| Family (one or two parents) with one dependent child | $787 |
| Family (one or two parents) with two dependent children | $821 |
| Family (one or two parents) with three dependent children | $855 |
| Family (one or two parents) with four dependent children | $889 |
| Family (one or two parents) with five dependent children | $923 |
| Family (one or two parents) with six dependent children | $957 |
| Family (one or two parents) with seven dependent children | $991 plus $34 for extra child |
The asset limits are:
|
Household |
Asset Limit |
|---|---|
| Single person | $1,300 |
| Couple, no dependants | $1,300 |
| Family (one or two parents) with one dependent child | $1,300 |
| Group household made up of two persons | $1,300 |
| Family (one or two parents) with two or more dependent children | $2,100 |
| Group household made up of three or more persons | $2,100 |
Income
Income is gross income, that is income you receive before tax and other deductions are made. Income includes wages, and payments from Centrelink and Veterans Affairs.
Assets
Assets generally include money in the bank, shares, mobile homes, businesses and so on. Assets generally do not include personal belongings, your car or furniture, but may include superannuation funds if you are able to access them. If you own or part own a house or flat, you are not eligible for assistance. However special provisions may apply if you are unable to sell this property. Please ask for further information about this.
Proof of income and assets
When you apply for public housing assistance or a bond loan, you must provide proof of your current income and assets.
For income, this includes a recent letter from Centrelink showing the amount you receive, a 13 week wage statement signed by your employer setting out your gross (before tax) income, or (if you are self employed) a profit and loss statement from your accountant.
For assets, this includes a current bank book or statement (or account print out showing your name) and proof of the value of any other assets such as shares or business assets.
These documents must not be more than four weeks old when you apply for assistance.