If I were looking for ASX shares to generate passive income this month, I would focus on businesses with established earnings and a clear ability to keep rewarding shareholders.
The three companies below offer attractive forecast dividend yields, although each supports its payments in a different way.
Here are my top Australian passive income picks for August.
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Harvey Norman Holdings Ltd (ASX: HVN)
Harvey Norman is my first passive income pick. I like it because it earns money from more than selling furniture, electronics, and appliances.
The company also generates income from its Australian franchise network, overseas stores, and substantial property portfolio. I think this gives the dividend a broader foundation than investors might initially expect from a retailer.
Its property assets generate rental income and strengthen the balance sheet, while the franchise model allows Harvey Norman to benefit from sales across its network without operating every Australian store itself.
Consumer spending can still affect earnings, particularly when households become more cautious. However, Harvey Norman's different sources of income should help it continue producing substantial cash flow across the economic cycle.
According to consensus estimates, the company is expected to pay fully franked dividends of 31 cents per share in both FY26 and FY27.
With Harvey Norman shares trading around $4.96, that represents a forecast dividend yield of approximately 6.25% before the potential benefit of franking credits.
I think that is an attractive level of passive income from a business with retail, franchising, and property operations.
National Australia Bank Ltd (ASX: NAB)
NAB is another ASX income share I would be happy to consider this month.
I particularly like its strong position in Australian business banking. This gives NAB exposure to companies across a wide range of industries and provides another source of earnings alongside home lending and personal banking.
Business customers can also have deeper relationships with their bank through lending, deposits, payments, and other financial services. I believe this could help NAB continue generating the profits needed to support its dividend over time.
Speaking of which, the bank is expected to pay a fully franked dividend of $1.70 per share in FY26, according to CommSec consensus estimates. At a share price of around $42.85, that would provide a forecast yield of approximately 4%.
The market then expects the dividend to rise slightly to $1.72 per share in FY27, suggesting analysts believe NAB can continue growing its payouts.
Bad debts, competition, and changes in interest rates can all affect bank earnings. Even so, NAB's business banking strength and fully franked dividend make it one of my preferred ASX passive income shares.
APA Group (ASX: APA)
APA is my final passive income pick for August.
The company owns pipelines, electricity transmission links, gas storage facilities, and generation assets that play an important role in Australia's energy system.
Many of these assets earn regulated or contracted revenue, which can make APA's cash flow more predictable than the earnings of a company directly exposed to commodity prices.
I also believe Australia will need continued investment in energy infrastructure as electricity demand grows and the energy system becomes more complex. New projects could provide APA with additional cash flow to support gradual distribution growth.
Consensus estimates are for APA to pay distributions of 58 cents per security in FY26 and 59 cents in FY27.
At the current price of around $10.30, those forecasts represent dividend yields of approximately 5.6% and 5.7%, respectively.
APA must carefully manage its debt while funding new infrastructure projects. However, I think its essential assets and relatively predictable revenue make the forecast income attractive.
Foolish takeaway
Harvey Norman, NAB, and APA each offer an appealing source of passive income.
Harvey Norman provides the highest forecast yield, NAB offers fully franked bank dividends, and APA's distributions are supported by energy infrastructure.
I think all three could be attractive ASX income shares to consider in August.
