What is a government payment?
A Government payment or pension can be classified as income that is received from a government agency, typically from Services Australia or Department of Veterans affairs. A Government payment or pension may include:
Family Tax Benefit Part A & B
Carer’s Income
Supplement Payments
Aged Pensions
Veteran Affairs Pensions
Disability Pensions
For more information, please visit the Services Australia website.
How can I calculate it for my Unloan application?
This type of income will need to be received regularly, and the calculation method depends on the payment frequency:
For weekly payments, multiply the gross amount by 52
For fortnightly payments, multiply the gross amount by 26
For monthly payments, multiply the gross amount by 12