Skip to navigation Skip to content

Assessing income and assets from cooperatives 108-04030000

Expand/Collapse all sectionsExpand all



This document outlines how income and assets from a cooperative are assessed and recorded for Centrelink purposes.

Cooperative income and assets

Assessment of income and assets from cooperatives

This table describes the process to record details of income and assets from a cooperative.

Expand table

Step

Action

1

Issue Income and Investments form (Mod iA)

This form can be used to get the latest sale price of the cooperative shares from a customer (and/or partner).

If the customer needs help in completing the form, see Completing the income and Assets Mod iA.

2

Return of completed Mod iA

Face-to-face contact: Typically done by service centre staff. Staff may complete this step if they are trained.

Are there enough details filled out on the Mod iA to code the Unlisted Public Companies (SIUS) screen? E.g., does it have:

  • the name of the cooperative
  • the number of shares held
  • the current market value and who owns the investment
    • Yes, go to Step 3
    • No, ask the customer to give any relevant certificate(s) or latest statement(s) of their cooperative shares

3

Coding details and recording outcome

Face-to-face contact: Typically done by service centre staff. Staff may complete this step if they are trained.

For deeming purposes, code the details on the Unlisted Public Securities (SIUS) screen of the customer's (and/or partner's) cooperative shares.

Details of the deeming assessment will show on the Financial Investment Summary (IVIS) screen.

Finalise the activity.

Record the details of the assessment on a DOC.