The house you're selling, is it your principle place of residence, or an investment?

This might help:
Exempt Assets
Some assets are exempt and not taken into account when calculating your Australian Government income support payment.
What assets are not assessed under the assets test?


Assets which are not assessed under the assets test - exempt assets - include:
  • your principal family home and any permanent fixtures such as wall-to-wall carpet and wall heaters, and either:
    • up to 2 hectares of privately used surrounding land on the same title document as the home, OR
    • all land greater than 2 hectares on the same title document as the home if you are eligible for the new rules for farmers and rural homeowners

    Note: if you leave your principal place of residence, it may be exempt for up to 12 months, depending on why you left.
  • if you sell your principal home the proceeds of the sale will be exempt for up to 12 months, as long as you are planning to use the proceeds to buy another home. This exemption can be extended for up to an additional 12 months if you are experiencing delays beyond your control in acquiring a new home. However, you will be deemed to be earning interest on the proceeds in the meantime and this will be counted under the income test
* This is from the Centrelink website *