Found this and while its dated (2007) makes an interesting read for those thinking of hitting the road. Some of its already been mentioned before on here, but this is the first time I have seen it coming from Centrelink themselves. Pay to check with them for the latest info, but at least you know what to ask them about.

Centrelink on the road

If youre running away from home for a length of time, make sure you understand any implications your trip will have on your pension entitlements. This issue, Centrelink General Manager, Hank Jongen, has outlined the three main areas you need to keep in mind: how selling your home may affect your pension, the upcoming changes to the assets test for pensions and rent assistance.

General information on how selling your home may affect your pension
· A persons family home is exempt from the assets test for pensions. However, if you sell your home and intend to use the proceeds on a new home, the money is exempt as an asset for 12 months and, from 1 July 2007, possibly up to two years in certain cases. If you put the money in a financial institution or investment, it is still subject to deeming under the income test, even though the asset value is exempt.
· If you purchase a much cheaper house, the remaining money, if banked or invested, would be immediately counted as an asset by Centrelink as well as being subject to deeming.
· If you buy a home on wheels, intending to travel for a while and then buy a new home, any remaining money you intend to later use on a new home would still be exempt as an asset for the original 12 months, and up to two years from 1 July 2007 in certain cases, but the mobile home would usually be treated as an asset. As a non-homeowner, you would have a higher allowable asset level than before, so the inclusion of the home on wheels as an asset may or may not affect you. Depending on your individual circumstances, this may result in a reduction or cancellation of Age Pension. 
· You should discuss these issues with Centrelink before making any final decisions, to make sure that you understand how the rules would work in your case. Call 13 2300 for more information, or visit the website at www.centrelink.gov.au.
Changes to pension assets test
· From 20 September 2007, the social security pension assets test taper will be halved, so that Age Pension and other pensions will only be reduced by $1.50 per fortnight for every $1000 of assets above the allowable asset limits (instead of the previous $3 per fortnight for every $1000 of assets above the assets test free areas).
· The change will mean people currently receiving a part pension under the assets test from Centrelink will get increased payments, while others who were previously unable to get a pension because of their assets may now be entitled to a part pension.
· The new assets test thresholds will be approximately:
Family Situation Full pension/allowance For part pension
Single homeowner Up to $161,500 Less than $520,750
(up from $343,750)

Single non-homeowner Up to $278,500 Less than $641,750
(up from $464,750)

Couple homeowner Up to $229,000 combined Less than $825,500
(up from $531,000)

Couple non-homeowner Up to $346,000 combined Less than $946,500
(up from $652,000)

Rent Assistance
· If someone receiving a pension does decide to travel in their home on wheels after selling their family home, they may be eligible for rent assistance, which helps them cover the cost of rent in the private market. It is also covers caravan site fees or other accommodation that a person occupies as their principal home. The amount of rent assistance they may be entitled to depends on how much rent they pay, as well as their personal circumstances.
· If someone receiving a pension decides to keep the family home, but travel in their home on wheels as well, in most cases they are not entitled to rent assistance if they have plans to return to their principal home within 12 months. If they are still travelling after 12 months, even if its still a temporary absence, the value of their home is treated as an asset and they may be eligible to receive rent assistance to cover the cost of alternate accommodation.
· Its important to remember, however, that the value of the house may have a substantial impact of the rate of payment someone is entitled to.
· If the principal home is rented while someone travels, the rental income is counted as income and may also affect payment rates.
· Those on benefits need to contact Centrelink on 13 2300 if their circumstances change so we can ensure they are receiving the right payment and the right amount.
· You qualify for rent assistance if you:
1. receive a pension
2. receive more than the base rate of Family Tax Benefit if you have dependent children
3. receive an allowance or benefit if you dont have dependent children, and you
a. are over 25
b. are partnered
c. are under 25 (under 21 if you receive Disability Support Pension) and living permanently or indefinitely apart from parents or guardians, or
d. are receiving Youth Allowance at the away from home rate, and
4. meet residence requirements.