Help for Your Income Bank balance.
* How To Use This Service.
* Income Bank balance.
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How To Use This Service.
You can use this service to view your current Income bank balance and/or obtain a history of your balance over the last 6 months.
For privacy reasons, once you start using this service, you will be "timed out" if you do not continue to use it by clicking on a field, entering information or scrolling up or down the page at least once every five minutes.
You can print the page, by clicking on the 'Print this page' button. This may be useful, as a way to keep a record of the receipt number you have been given, as part of accessing this service.
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Income Bank balance.
Full-time students and New Apprentices (apprentices or trainees) receiving Youth Allowance, Austudy payment and ABSTUDY, are subject to a Personal Income Test on any income they receive. They have access to the Income Bank, which enables them to build up credits when they are not earning any income. This credit can then be used to offset any income they earn later (during vacation periods, for example).
Full-time students and New Apprentices have a fortnightly income free area of $236.00. If your income is less than or equal to $236.00, your Centrelink payments remain unaffected by your income. The unused part of the fortnightly income free area ($0-$236) is accrued each fortnight as credit in the Income Bank. (This means that full-time students and New Apprentices can earn some money and still accrue a credit.)
Example: A student or New Apprentice may have regular income of $60 per fortnight. Each fortnight an amount of $176 would accrue in their income bank. Their credit continues to accrue until they reach the maximum credit for students of $6000 or for New Apprentices of $1000.