Centrelink share valuation

When is it worthwhile to ask Centrelink for a reassessment?

Centrelink share valuation

The recent share market volatility has prompted Michael to ask how often Centrelink updates share values and whether it’s worthwhile asking for a reassessment.

Q. Michael

I understand that an age pensioner can request Centrelink to update the value of their share investments at any time. Do you know if its records are updated daily, weekly or monthly?

In view of the current dramatic decrease in the value of shares, I’m wondering what’s the optimum time at which I should request a revaluation.

A.    If financial assets owned directly by you (such as shares) change in value by more than $2000, you are obliged to inform Centrelink within 14 days. 

Where the value of shares changes on a daily basis, such as public companies, Centrelink applies a bulk valuation twice a year – in March and September – when pension indexation is applied.

You can request a re-assessment of your benefits at any time, but as the share market is experiencing some volatility, both up and down, you may find yourself disadvantaged, as Centrelink will automatically update the latest market values of your investments.





    COMMENTS

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    joyq
    8th Sep 2015
    11:44am
    You can ask Centrelink for a trial reassessment of shares. When they give you a valuation, you have the choice to go ahead if it in your favour, or decline if it isn't. Be aware some Centrelink staff don't know about this trial and will check with a supervisor. I've done this lots of times.
    Bill R
    8th Sep 2015
    2:50pm
    You can always go to the ASX website, register and enter the number of shares you have and it will give a current value.


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