Rapid Finance on 8 January 2015

If You’re Applying for a Car Loan While on Centrelink Benefits, You’ll Need to Know About This Important Document

Contrary to what you might think, it is possible to get a car loan while receiving Centrelink benefits.

However, if you are applying for a Centrelink car loan while on benefits or if you have a bad credit history (and are applying for a bad credit car loan), there are additional documents you will need to include with your application.

One of these documents is a Centrelink Income Statement; a document that you do not receive automatically from Centrelink but one that is easy to obtain, and free. The Centrelink Income Statement is used by Rapid Finance as proof of income and also to identify any deductions that can be added back onto your income to assist with your application.

If you’re thinking of taking out a car loan while receiving Centrelink benefits, then before beginning your loan application, it could save you time and stress to know both what a Centrelink Income Statement is and how to get it.

What is a Centrelink Income Statement?

A Centrelink Income Statement shows all the information Centrelink has about your financial circumstances. You will need to provide this document to your lender if you are applying for a car loan (or any other kind of loan) while on Centrelink benefits. You only need to provide this document if you are actually receiving Centrelink benefits.

If you are on Centrelink benefits, chances are you’ll be familiar with income reporting. The Department of Human Services (‘Centrelink’) requires everyone receiving financial benefits to regularly report any earnings they are receiving. Typically, you would be reporting your income every fortnight.

According to Centrelink, ‘income’ refers both to regular payments made to you by your employer as well as any periodical payments or benefits you receive as a gift or allowance. This latter form of income can come from anyone – such as parents, relatives or friends – and needs to be reported so long as the payment is made regularly. The more you report, the more information Centrelink will have about your financial circumstances.

An Income Statement is the document that shows all the information Centrelink has about your financial circumstances – valuable information for a lender deciding whether or not to approve you for a car loan. Your Income Statement will detail information such as:

  • Any regular income you receive
  • Where those forms of income are coming from
  • Any tax benefits you receive
  • How much you receive as part of your regular Centrelink payments
  • Any future payments you are entitled to
  • Previous irregular payments you have received
  • Details of your assets (cash, investments, savings, household & personal effects)
  • Details of your partner’s income

Before approving you for a car loan, your lender will need to make a full assessment of your financial circumstances, including any Centrelink benefits or entitlements you receive. In most cases, it can help to strengthen your loan application if you are able to provide evidence of your partner’s income – particularly if they are not on Centrelink, and they have a strong credit history. If you have been reporting regularly, all of this information should be visible on your Centrelink Income Statement.

couple filling out online form

How Do I Access My Centrelink Income Statement?

Getting your Centrelink Income Statement is easy.

If you have a Centrelink account, just log in online as you would normally do to report your income. On the right-hand side of the homepage that appears after you log in, select ‘Request a Document.’ This will take you to a page with a drop-down menu entitled ‘Document Type’ which, when you click on it, will give you several different options to choose from, including:

  • Centrelink Statement
  • Deduction Statement
  • Detailed Income & Asset Statement
  • Income Statement
  • Income Management Statement
  • Payment Summary
  • Replacement Concession Card

Simply select ‘Income Statement’ from the list, and you’re already on the home stretch. Centrelink will ask you to fill out a few easy questions such as who you are requesting the document for (e.g. a financial lender) and the date you are making the request (this will default to today’s date, which most of the time you will not need to change).

Mission accomplished! After these easy questions, you will be directed to the ‘Receipt’ page, which basically means you have made a successful document request. As well as showing your receipt, this page will contain a link to the PDF version of your Income Statement. Follow the link, and your Income Statement will open on your screen. Save a copy of your Income Statement onto your computer and print it out to include with your car loan application.

See? Too easy.


If you’re applying for a car loan on Centrelink benefits, you will need to include a Centrelink Income Statement as part of your application. This document is only necessary for loan applicants actually receiving Centrelink benefits.

An Income Statement details all the information Centrelink has about your financial circumstances; information such as how much you earn, how much your partner earns, where your earnings are coming from and any details of your savings. All of this is valuable information to a lender considering whether or not to approve you for a car loan application.

If you are receiving Centrelink benefits, you should already have an online account which you regularly use to report your income. To access your Income Statement, simply log in to your account as usual and follow the steps listed above.

Requesting a document is a relatively quick and easy process; one that doesn’t require going into a Centrelink branch. You can easily do it from home and print the document out from your own computer.

Contrary to what you may think, getting approved for a car loan while receiving Centrelink payments is not an impossible task. Learn more about applying for a car loan while receiving Centrelink benefits.

Rapid Finance has helped many Australians with a bad credit history get approval for their car loans. If you need help getting your dream car, but don't know if you can obtain finance, call our friendly staff on 1300 467 274 to discuss your options.