2.Because Newstart is such a low payment, and considered temporary (despite the reality of single parents needing to be on it for years) banks and lenders will not loan money to Newstart recipients. As parenting payment was seen as a secure, permanent income, just like the disability support pension, lenders would class those pensions as income. Lenders do not class newstart as income. Also, quite recently it has become apparent both through a personal friend, and others on my page, that due to the upcoming release of the McClure welfare review and proceeding budget cuts, many banks are refusing to count family tax benefit s as income too. This inability to get loans has been extremely problematic – especially in situation where a mortgage is cheaper than renting.
Posted on: Tue, 23 Sep 2014 23:30:00 +0000
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