Update finances if your child is studying

Parents of children who receive Youth Allowance or ABSTUDY Living Allowance as a dependent student need to update their financial details with the Department of Human Services as soon as possible to ensure their child continues receiving their payment.

Department of Human Services General Manager Hank Jongen said in recent weeks his department had written to students whose parents needed to complete an annual parental income test reassessment.

“Already, around 35,000 parents have completed the reassessment, and we urge others to make sure they do so as soon as possible,” Mr Jongen said.

“It is important for parents to update their financial details with us accurately and on time, as this information is used to assess the correct rate of payment for their children.

“If parents do not update their financial details by the date specified on their letter, their child’s payment will stop.”

Mr Jongen said the letters included instructions for parents and guardians to complete their assessment online in a few simple steps.

“To complete the assessment, parents can simply log in to their Centrelink online account through myGov and select ‘Advise Parental Income’ from the menu,” Mr Jongen said.

“Those who don’t have their own Centrelink online account can still update their details online using the unique One Time Access Code provided in their letter.

“Even if customers have misplaced their letter, they can easily update these details online, by creating a Centrelink online account through myGov.”

Mr Jongen reminded customers they need to do this even if they have recently updated their details for another child or payment.

Mr Jongen said parents completing the assessment need to have their child’s Customer Reference Number and their taxable income details from the previous financial year on hand.

“If you have not lodged a tax return, or are yet to receive a Notice of Assessment, you can provide an estimate of your income,” Mr Jongen said.

Parents can find more information about completing the assessment by going to www.humanservices.gov.au and searching for “annual reassessment”. To create a myGov account, visit www.my.gov.au

For regular information and updates or to ask a question about Centrelink payments and services, students can visit and like www.facebook.com/StudentUpdate

Audio

Spoken by Department of Human Services General Manger Hank Jongen.

Download audio: Update finances if your child is studying – Grab 1 (MP3, 470KB)

Transcript: If your child receives Youth Allowance or ABSTUDY Living Allowance as a dependent student, you need to update your financial details with the Department of Human Services as soon as possible.

Download audio: Update finances if your child is studying – Grab 2 (MP3, 285KB)

Transcript: We’ve sent letters to students whose parents need to complete this update, which can be done online.

Download audio: Update finances if your child is studying – Grab 3 (MP3, 377KB)

Transcript: This update ensures students get paid the right amount, if parent’s don’t update their financial details, their payments will stop.