Anyone who owns or has recently sold their home will no longer be entitled to cash handouts from Government.The money-saving crackdown on those who are eligible for financial assistance was announced today due to Government’s reduced budget.To be eligible for a childcare allowance the income threshold is now $50,000, reduced from $70,000.Only one month’s arrears will be paid on expenditure items to encourage people to be “more timely and responsible”.Property is now considered an asset so anyone who owns property is no longer eligible to apply for help. And people who sell on property can’t apply for handouts within five years of the transaction.The raft of changes also includes the axing of mortgage interest/ areas, property insurance, personal/household and comfort allowance.Returning Bermudians must have lived on the Island one year before applying for assistance and if a person loses their job because of their own actions, they have to wait three months after the date of termination.It was also announced that the Department of Financial Assistance would be giving out about 600 non-cash grocery cards. Each card will be activated monthly with the approved food allowance and will replace paper food vouchers.The Ministry of Youth, Families, Sports and Community Development announced the changes at a press conference today.Minister Glenn Blakeney said the Department of Financial Assistance had seen “an influx of applicants in need of assistance over the last several years”.He said: “We have had to make legislative changes in order to achieve cost savings while still remaining on task and in line with our mandate to provide Bermuda residents with basic financial assistance.“We are, in essence, endeavouring to do more with less.”