Th asset test is a TAX on any pensioners who invest independently. What it does it is estimate money you invest and then they reduce your pension , so low that you are going to use your savings,it is similar as the ROBODEBTS. The pensioners benefits with a full pension are the ones that, with the family make out that don't have any money because they transfer money to the family. The money became FAMILY TRUST FUND, this started for the well heel but over time other decided to do same
The 450000 inheritance i plane on dropping the lot into a home and living in it with my son as he is going to be paying the mortgage. so that shouldn’t affect my Centrelink payments
if you are living in a home you own it should not impact your Centrelink entitlements. i would also confirm this with them directly prior to the transaction.
You would be deemed a home owner if you live in it. If it's rented the would use the income against the income test if it's applicable to your situation and benefit you get
Shouldn't the age pension be for people who have nothing, not for the rich, If you have 450 thousand or a million in assets or in your bank account you are rich.
@@Tony-eb5kh they earn and pay tax like everyone else u guess. People can't rely or fall back on a social system to help out later in life. Some people may need to make better choices along the way and plan for retirement.
@@michaelswonderfulworld and invested well you would have a chance to offset inflation to a degree. The larger issue is your spending rate and lifestyle choices which may reduce the balance of your capital faster than inflation.
So you think its ok for you to spend all your weekly pay on cigarettes and alcohol, expensive junk food at restaurants, expensive junk cars, and be saved by the tax payers, while i live a healthy life eating home the cheapest cooked meals, drive a cheao second hand car, dont smoke or drink, pretty much living a healthy reliable life, yet i get punished cos i chose to save my money instead of living a shit life you do ? God . Give me a break. 🙄
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Th asset test is a TAX on any pensioners who invest independently. What it does it is estimate money you invest and then they reduce your pension , so low that you are going to use your savings,it is similar as the ROBODEBTS. The pensioners benefits with a full pension are the ones that, with the family make out that don't have any money because they transfer money to the family. The money became FAMILY TRUST FUND, this started for the well heel but over time other decided to do same
Ok.
The 450000 inheritance i plane on dropping the lot into a home and living in it with my son as he is going to be paying the mortgage. so that shouldn’t affect my Centrelink payments
if you are living in a home you own it should not impact your Centrelink entitlements. i would also confirm this with them directly prior to the transaction.
What if your 62 on centre link payments and you get a inheritance of 450000 and won’t to use that as a deposit on a house
You would be deemed a home owner if you live in it. If it's rented the would use the income against the income test if it's applicable to your situation and benefit you get
Shouldn't the age pension be for people who have nothing, not for the rich, If you have 450 thousand or a million in assets or in your bank account you are rich.
I guess it depends which end of the scale your at. You could also argue there should be no age pension like most countries in the world.
@@Tony-eb5kh we are heavily taxed here for sure. Most countries don't assist like we do.
@@Tony-eb5kh they earn and pay tax like everyone else u guess. People can't rely or fall back on a social system to help out later in life. Some people may need to make better choices along the way and plan for retirement.
@@michaelswonderfulworld and invested well you would have a chance to offset inflation to a degree. The larger issue is your spending rate and lifestyle choices which may reduce the balance of your capital faster than inflation.
So you think its ok for you to spend all your weekly pay on cigarettes and alcohol, expensive junk food at restaurants, expensive junk cars, and be saved by the tax payers, while i live a healthy life eating home the cheapest cooked meals, drive a cheao second hand car, dont smoke or drink, pretty much living a healthy reliable life, yet i get punished cos i chose to save my money instead of living a shit life you do ? God . Give me a break. 🙄