DVA Income and Assets Assessment Form: A Veteran's Guide

What the DVA Income and Assets Assessment Form Actually Is

“DVA income and assets assessment form” is a general description rather than the name of one form. DVA uses different forms depending on whether the assessment relates to income support, Veteran Payment or residential aged care costs.

For means-tested income support, DVA uses your financial details to calculate a payment rate. Residential aged care uses a separate assessment to work out how much you may contribute towards care and accommodation.

Which Income and Assets Form Do You Need? 

Here are the main forms tied to a DVA income and assets assessment:

Which Payments Use the Income and Assets Test? 

The income and assets test is mainly relevant when DVA is working out a rate for means-tested income support. That can include Service Pension, Income Support Supplement, Veteran Payment and Age Pension paid through DVA.

Compensation payments are different. A disability compensation payment, War Widow or Widower payment, or equivalent MRCA compensation payment is not reduced through the same income and assets test in the way income support is.

There is one important trap. A payment that is not itself means-tested may still be counted when DVA assesses another payment. For example, a War Widow or Widower payment can be treated as income when DVA assesses Income Support Supplement.

If you are unsure, do not rely on the payment name alone. Check whether DVA is assessing an income-support payment, a compensation payment or an aged care cost-of-care contribution.

When You Need to Update Your Details 

After DVA grants a means-tested income support payment, follow the notification obligations in your decision letter. The general rule is to report changes that may affect your rate or eligibility within 14 days, or within 28 days if you live overseas or receive Remote Area Allowance.

Some changes have different reporting rules. If you are unsure whether an income or asset change must be reported, ask DVA before assuming that no update is needed.

The D0648 Form for Service Pension and Income Support Supplement

Form D0648 records the financial details DVA needs to assess a Service Pension or Income Support Supplement claim.

What You Lodge with the D0648

If you are claiming a Service Pension or Income Support Supplement, use D0648 for Part B of the claim. Lodge it with D0503 or D0504 for a Service Pension claim, or D0529 for an Income Support Supplement claim.

DVA says Parts A and B should be lodged together to avoid processing delays. You can submit through MyService or use the paper forms, and you can contact 1800 VETERAN or a Veterans’ Access Network office if you need help. 

Supporting Documents to Gather

Follow any deadline in the letter or claim instructions DVA sends you. The supporting evidence required depends on the income, assets and financial arrangements you disclose.

DVA may ask for:

• Current investment, superannuation or income-stream statements
• Documents for loans, trusts, companies or managed investments
• Council rates notices and property records
• Tax returns or financial statements where relevant
• Employment reports or employment separation documents

Check the form carefully because some records may need to be certified. Gather the documents relevant to your answers before you lodge.

The Veteran Payment Income and Assets Assessment

Veteran Payment works differently from the Service Pension. It is interim financial support you may receive while DVA assesses a mental health condition claim, and it uses its own income and assets assessment.

Veteran Payment may provide interim support if you have lodged an eligible mental health claim under the MRCA. You must be unable to work more than eight hours a week.

You must also be below Age Pension age when you lodge the mental health claim. You must meet the residency rules and remain under the income and assets limits.

Apply with Form D9333 after you lodge the mental health claim. You can start the claim through MyService. We explain the steps in my DVA mental health claim guide.

Because Veteran Payment is tied to a mental health claim, support is there while you wait. Open Arms offers free and confidential counselling to current and former ADF members and their families, 24 hours a day. If you or someone you know is in immediate danger, call 000.

How the DVA Income and Assets Test Works

For the means-tested income support payments discussed above, DVA applies an income test and an assets test. It calculates your rate under both and applies the test that produces the lower payment.

These rules are separate from the residential aged care cost-of-care assessment explained later.

The Income Test

The income test uses an income-free area. If your income is at or below that amount, the income test does not reduce your rate. The assets test may still reduce it.

Above the income-free area, a single person’s payment falls by 50 cents for each extra dollar. For couples, each partner’s payment falls by 25 cents for each extra dollar of combined income. Check the current limits before you estimate your payment.

The Assets Test

The assets test looks at what you own. For the DVA income-support assets test, your principal home is generally exempt. Your payment falls by 75 cents a fortnight for each $250 above the relevant limit.

The limits vary for singles and couples. They also vary based on whether you own your home. DVA updates the limits each July.

How Deeming Is Applied

DVA uses deeming for many financial assets. It applies set rates instead of the actual interest or dividends you receive. For rates effective from 1 July 2026, the lower rate is 1.25%.

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It applies to the first $66,800 for a single person or $110,600 for a couple. Assets above those amounts are deemed at 3.25%. I explain how this may affect different savings levels in my DVA deeming guide.

What the 1 July 2026 Reforms Changed for These Payments

Veteran laws changed on 1 July 2026. The VEA and DRCA closed to new compensation and rehabilitation claims. DVA now assesses new claims of that kind under the MRCA.

Income support payments stayed open. This includes:

• Veteran Payment
• Service Pension
• Partner Service Pension
• Income Support Supplement

Form D0648 remains in use for Service Pension and Income Support Supplement claims.

My DVA pensions guide explains the wider range of payments that may be available to eligible veterans. If money is tight while DVA assesses a claim or payment application, my DVA financial hardship guide explains other support that may apply.

Income and Assets Assessments for Aged Care

Residential aged care uses a separate cost-of-care means assessment. Depending on when you entered care and the fee arrangements that apply, it may affect your accommodation costs, hotel contribution, non-clinical care contribution or means-tested care fee.

DVA usually completes the aged care means test if it pays your Service Pension, Income Support Supplement or Age Pension. It may also assess some clients with qualifying service. Services Australia assesses other DVA clients.

You may need Form SA457 or SA485 based on your circumstances. DVA can tell you which form to use on 1800 VETERAN. Services Australia then uses the result to work out the relevant aged care fees.

I explain how DVA support and aged care fees fit together in my DVA Gold Card aged care guide.

Getting Your Assessment Right

Use the form that matches the payment or aged care assessment involved and follow the current instructions from DVA or Services Australia.

If your circumstances do not fit neatly into one pathway, confirm the correct form before lodging. We do not provide general pension or aged care means-testing advice.

Veterans First Consulting has supported over 10,000 veterans and can help with an eligible service-related mental health claim where Veteran Payment may be relevant. Contact the team to discuss the underlying claim.