Stuart Robert (Fadden, Liberal Party, Minister for the National Disability Insurance Scheme) Share this | Hansard source

I thank the member for her question. For the benefit of the House, the liquid assets waiting period is the period that people must wait before being paid an allowance if they have funds above the maximum reserve the day after the date they ceased work or study, or at a date of claim. It varies from one week to 13 weeks at present and is applied as whole weeks, and the maximum reserve amount available to a customer is to be used to calculate it. The vast majority, about 95 to 97 per cent, of people do not have a liquid assets waiting period applied. On average, people who fulfil the full 13 weeks have about $74,000 in liquid assets, and a liquid asset does not include a house or a car. In many circumstances—and I'm sure the member will be interested in this—the liquid assets waiting period can be waived where the customer would be in severe financial hardship. People do not need to spend any specific amount of their liquid assets before they're allowed onto payments. Once the waiting period is served, no matter the amount of assets they have outstanding, they will receive their payments.

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