adele244 Posted October 27, 2015 Share Posted October 27, 2015 Hi all, I have tried searching for this topic but I cant find anything specific this. When we move over we will have our entire savings (in the form of equity from house) The plan is to send this over to OZ in a savings account, rent for 6 months then hopefully this should give us a good deposit on buying a home. My query is that if for any reason we have to rely on Centrelink for help (for example if we are on low paid work at the beginning or even no work at all) Would CentreLink not help us as we have savings sat in the bank? I really don't want to touch this money as it is intended on a deposit on a house. Would it be worth leaving it in the UK until the time comes to buy a house, and at that time transfer it over? Your thoughts please .......Thanks guys..........Adele Link to comment Share on other sites More sharing options...
Jacaranda Posted October 27, 2015 Share Posted October 27, 2015 Please don't quote me on this,but I was under the assumption,Centrelink wont pay any newbies anything for 2 years anyway? Link to comment Share on other sites More sharing options...
Marisawright Posted October 27, 2015 Share Posted October 27, 2015 It doesn't matter which country the money is in, it's your money and it would be illegal not to declare it to Centrelink. And yes, it's likely that having that money would mean you're ineligible for Centrelink assistance. That's not unusual in Oz - I lived there for 30 years, was out of work several times and was never able to qualify for unemployment benefit. Actually, I had the same thought as Jacaranda but I could be completely wrong. Link to comment Share on other sites More sharing options...
amibovered Posted October 27, 2015 Share Posted October 27, 2015 Please don't quote me on this,but I was under the assumption,Centrelink wont pay any newbies anything for 2 years anyway? Looks like you might be correct http://www.humanservices.gov.au/customer/enablers/newly-arrived-residents-waiting-period Link to comment Share on other sites More sharing options...
Jacaranda Posted October 27, 2015 Share Posted October 27, 2015 Thanks Marisa and Amibovered,I wasn't 100% sure but thought I had read it somewhere.x Link to comment Share on other sites More sharing options...
adele244 Posted October 27, 2015 Author Share Posted October 27, 2015 Thanks guys. I have never seen that. I was 100% sure I saw on the CentreLink website that Permanent residents were entitled to help. I was also told on this forum that PR's could claim it, it was temporary's that could not. Better check that out. Thanks again x Link to comment Share on other sites More sharing options...
Marisawright Posted October 27, 2015 Share Posted October 27, 2015 Thanks guys. I have never seen that. I was 100% sure I saw on the CentreLink website that Permanent residents were entitled to help. I was also told on this forum that PR's could claim it, it was temporary's that could not. Yes PR's are entitled to help but there is a waiting period of 104 weeks, according to that website. Same goes for Brits returning to the UK. Link to comment Share on other sites More sharing options...
adele244 Posted October 27, 2015 Author Share Posted October 27, 2015 To have to claim, would be my worse nightmare. It is something I am not intending to do. I just worry about us both getting really low paid jobs. As always you reap what you sew, so hopefully with lots of hardwork and determination it shouldn't be an issue. (hopefully!) Link to comment Share on other sites More sharing options...
Parley Posted October 27, 2015 Share Posted October 27, 2015 Look up the assets test. If you have hundreds of thousands in the bank you cannot get Newstart Allowance. They do expect you to spend your own money before providing unemployment benefits. You are only allowed a fairly small amount $10K or something like that. Your home is an exempt asset but liquid assets like money in the bank or shares are not. Link to comment Share on other sites More sharing options...
amibovered Posted October 27, 2015 Share Posted October 27, 2015 To have to claim, would be my worse nightmare. It is something I am not intending to do. I just worry about us both getting really low paid jobs. As always you reap what you sew, so hopefully with lots of hardwork and determination it shouldn't be an issue. (hopefully!) Minimum wage is quite reasonable in Australia, if you are both working you should be able to get by if you're careful. Link to comment Share on other sites More sharing options...
Gbye grey sky Posted October 27, 2015 Share Posted October 27, 2015 Your problem could be a period with no work at all. In my view all newbies, unless they have a job lined up, should have a savings contingency of at least 3 months and then rejoice if they do not end up using that. Link to comment Share on other sites More sharing options...
Que Sera Sera Posted October 27, 2015 Share Posted October 27, 2015 There are certain " benefits " you can claim immediately , these being family assistance and rent assistance, there is no waiting period, it is claimable on taking up residency and are available to PR visa holders. Not sure about the savings criteria to be honest. Link to comment Share on other sites More sharing options...
Sammy1 Posted October 28, 2015 Share Posted October 28, 2015 Hi all, I have tried searching for this topic but I cant find anything specific this. When we move over we will have our entire savings (in the form of equity from house) The plan is to send this over to OZ in a savings account, rent for 6 months then hopefully this should give us a good deposit on buying a home. My query is that if for any reason we have to rely on Centrelink for help (for example if we are on low paid work at the beginning or even no work at all) Would CentreLink not help us as we have savings sat in the bank? I really don't want to touch this money as it is intended on a deposit on a house. Would it be worth leaving it in the UK until the time comes to buy a house, and at that time transfer it over? Your thoughts please .......Thanks guys..........Adele Any money in the bank has to be declared by you, it does not matter if it is sitting in a UK bank account. Newstart was not set up to help migrants who have thousands in the bank, it is for genuine need only. You will not be able to claim Newstart for a period of two years anyway. You may be eligible for some rent assistance or child care benefit though. Link to comment Share on other sites More sharing options...
scuffythetugboat Posted October 28, 2015 Share Posted October 28, 2015 You haven't mentioned children in your post, which would make a difference to what types of assistance you may be able to claim. If you have none and either of you get a job then you will get nothing. If, after a while, you find yourselves unable to get any work at all then make an appointment with Centrelink and talk to them about making a claim, bearing in mind that you would have to be open and honest about all of your assets and income anywhere in the world. Based on what you tell them, and them checking out your claim, they will in time let you know if you are entitled to anything and exactly what you will get. Link to comment Share on other sites More sharing options...
VERYSTORMY Posted October 28, 2015 Share Posted October 28, 2015 Be aware though, things like rent assist is not like the UK. It is a fixed, very low amount regardless of actual rent. For example, when we went to Centrelink last year - we are citizens - the total amount as a couple with no children we could claim was $420 a week. To put it in perspective, that is less than average rent in WA per week. Let along bills and eating. You need a contingency of a absolute minimum of enough to live on for 3 months and I would strongly recommend 6 months. I would research any licensing that your husband may need on arrival as well, as this can hinder things / complicate the job front. Link to comment Share on other sites More sharing options...
Parley Posted October 28, 2015 Share Posted October 28, 2015 Still very generous though VS. No wonder so many young kids are quite happy to live near the beach and live on benefits. In the US I think you get nothing after a short period. We are pretty lucky here I reckon. Link to comment Share on other sites More sharing options...
scuffythetugboat Posted October 28, 2015 Share Posted October 28, 2015 I don't think that $420 in total a week for a couple to live on is generous, especially if you have no savings. Link to comment Share on other sites More sharing options...
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