Assessing verified parental income for current income assessments for ABSTUDY and Assistance for Isolated Children (AIC) Scheme 108-02020050

A dependent ABSTUDY customer's entitlement to Living Allowance or an AIC student's entitlement to Additional Boarding Allowance (ABA) for the year of study is normally based on his/her parent(s)', or person(s) deemed to be a parent for the purposes of the parental means tests, combined family income for the financial year ending in the year before study (that is, the base tax year).

However, if parent(s) have a substantial decrease or an increase of more than 25% in their combined parental income for the financial year ending in the year of study (that is, the current tax year) over that of the base tax year, the customer's or student's entitlement may be reassessed using the income figures for the current tax year.

The parents are requested to supply Services Australia with their verified income for that financial year when it becomes available so that an accurate assessment of the customer's or student's entitlement can be undertaken. When the verified income figures are provided, the appropriate type of income assessment may need to be determined again using the parent'(s) verified income figures. These re-assessments may result in an underpayment of benefits for which payments will be adjusted, or an overpayment of benefits for which a request will be made for repayment.