Centrelink's out of cycle financial asset revaluation
I’m very cynical about the timing of this out of cycle financial asset revaluation especially when you consider the last in-cycle revalue was only a couple of months ago - at the peak of the pandemic after markets had crashed - this new revaluation comes at a time when investment markets have started to recover and the revaluing of financial investments at this time could reduce Centrelink entitlements. If this applies to you and you are worried or concerned about your payments reducing, now would be a good time to review your entire Centrelink account including your recorded income and assets (not just financial investments). You may be able to do this yourself but If you need assistance with it, we are here to help - we ensure our clients receive their maximum Centrelink entitlements by undertaking a full review of their Centrelink account on a regular basis. Here's their announcement:
We’re revaluing your financial investments to make sure we’re paying you the right amount. Coronavirus has caused financial markets, in general, to go down. On 1 June 2020 we’ll revalue your market linked investments, shares and securities. You don’t need to do anything. After we revalue these assets, your payment rate may change. You can check your Centrelink online account to see any change to your payment rate.
Read more about how we assess and revalue financial investments: https://www.servicesaustralia.gov.au/individuals/topics/financial-investments/27486#a3