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What is included in household income and cash assets?

Household Income

Gross household income is the total of all income before tax for the previous 12 months from all sources for all household members aged 18 years or over excluding flatmates.  If you are living in a residential facility, only list your personal income.

Cash assets

Cash assets mean anything that members of the household own that could be easily converted to cash. You may be asked to provide evidence of cash assets. 

Cash assets include:

  • money in bank accounts, including fixed and term deposits with any bank, friendly society, credit union, or building society, in New Zealand or overseas;
  • shares, stocks, debentures and bonds (including Bonus Bonds and shares in energy organisations);
  • money invested with or lent to any bank or other financial institution;
  • mortgage investments and long term loans;
  • building society shares;
  • your share in any partnership;
  • bills of exchange or promissory notes;
  • the net equity held in any property or land not used as your home; or
  • motor vehicle for your own private use.

Cash assets do not include:

  • the value of your home property and the land on which it is situated;
  • personal effects;
  • a caravan, boat or other vehicle with a net equity less than $2,000 or which you use for day to day
  • accommodation;
  • Māori land where the title is in tribal trust and individual ownership cannot be identified; or
  • funds held in KiwiSaver and other retirement schemes accounts (unless you are able to withdraw
  • them due to being over the age of 65 and you have been a member of a KiwiSaver scheme for at
  • least five years).