Is my home always exempt for Age Pension

[@AboutRetirementTV]

Is your family home an asset for calculating your Age Pension entitlement? Do you know how to calculate your Age Pension payment?

[@vivianwu1763]

Appreciate so much for your valuable info! Will u be able to advice on Blood line trust / Living trust as way to retirement & estate planning?

[@AboutRetirementTV]

Hello Vivian, I am so very sorry for the late reply, but I am having more and more problems answering all the questions. Yes, that part of estate planning is important and can be complex. Please contact my office to organise the meeting for us, or better yet, set up the meeting via my website and we can discuss those options you mentioned

[@HA-vh3ti]

I recall in one of the video you mentioned only last 5 year Asset is counted. What if we give away a Investment property to our children - I see you mention in this video it doesn't make sense - but for some it may (specially if Investment Property), as helping kids entering expensive market. My question is if I give away my Property (say Investment), do I have to do this 5 year before planned retirement?

[@yvonnelenders5986]

Hi Katherine,where am I able to contact you privately about sorting out my Centrelink Aged Pension entitlement and what do you charge for your service. Many thanks

[@AboutRetirementTV]

Just call our office 1300 274 731.

[@sextoncardew903]

One thing we can be really sure about is that Australian politicians will look after themselves. Looking after the voters welfare is doubtful.

[@janinahendrych9065]

Can I put my home in trust ??-will this effect a pension ???

[@AboutRetirementTV]

Yes you can, but I cannot see any benefit apart form the extra costs, unless there is an estate planning issue that take precedence. this needs to be discussed in more details, so the best way is to have a personal consolation, which you can organise via my website aboutretirement.com.au/

[@Journeyman53]

To say that your home is an exempt asset is totally untrue. The government places an arbitrary asset value of $216,500 on your home regardless of its true value, that is the difference in assets allowed by home owners versus non-home owners. If your home was truly an exempt asset, you should be able to have the same value of assets as a non-home owner.

[@AboutRetirementTV]

I think this is what I explained in my video

[@prof.heinous191]

Thank you for this channel! I don't know if you have time to make a video about HECS debts before they make an inflation linked increase at the end of the month. Personally, I'm sixty-six and I've always been below the income payback threshold, and with very modest savings, but I believe some retrospective legislation was brought in which I don't understand. If I was to receive a sum of money in the future could that effect HECS repayments? I'm sure there must be others out there close to the Age Pension who still have HECS debts!

[@AboutRetirementTV]

Thank you for your comment and for watching my videos. I don't really deal with HECS so I don't really know much about legislative changes that could impact HECS.

[@prof.heinous191]

@@AboutRetirementTV The overlap between what most people do in their twenties and sixties is probably fairly small, but thanks for replying!

[@pelo2748]

Hi my family home is on 1300m2 and has 3 titles, 653m2 which the dwelling is on and 261m2 and 392m2 which has garages and sheds etc, which I've always looked upon as the garden associated with the family home, how would this family home be treated with regards Centrelink assets?

[@BOMBERSAUSTRALIA]

My wife and I separated in June 2019. Since then I have been living in a caravan moving around to different caravan parks. Last year I had a large bill to pay Centrelink, as they said I had been overpaid because my half share of my former home was now considered an Asset, because it had increased in value over a 13 month period. Since home values have decreased over the last year or so, am I entitled to a review and a readjustment of that ruling? Just wondering if this will turn into a new yearly bill for me until settlement as my former wife refuses to pay me out or move to allow everything to be split fairly. I am receiving Centrelink rental assistance and a part pension to compliment my CSS Defined Benefit Scheme.

[@tinamaxwell922]

Hi am a widow 67 turning 68 in December. I am still working part time earning 50K yr. I own my house about 480k plus content. 10k on my savings. I haven't touch any of my superannuation. I want to retire soin. What is the best way to live financially better.

[@AboutRetirementTV]

Tina, that is just not enough information to answer your question. Please just organise the meeting for us and I will look into your personal situation then.

[@ilikevines]

If you own a home you should not be allowed to access the pension. Once your super is eaten up, you can sell your home and once you have no cash left you can get the pension. Young people who are locked out of the housing market should not be forced to pay the pensions of people who are 100 times wealthier than them.

[@john-qb2sc]

I am 89 a single aged person and I will live with my son (he is a home owner). My sons works and will look after me. What about if I sell my home. I intend to have the money/cash deposited into my bank account. Will this affect my pension?

[@AboutRetirementTV]

Hello John, unfortunately yes, it will. I am not sure how much you will have from the sale of your home, but yes, it might affect your Age Pension payment amount. But you will become a non-homeowner, so your allowance will be higher. There are ways to help the situation if Age Pension is to be dramatically reduced, but it is complex, I am unable to explain it in the video and you would really need a specialist advice.

[@fixeywong2516]

Can I get face to face advice from you

[@AboutRetirementTV]

Yes, just visit my website aboutretirement.com.au and book 15 min free consultation and we can start from there

[@fixeywong2516]

Can I put in my will that my hubby and child share my assets, including half of my house and cash

[@AboutRetirementTV]

Hi, it really depends how you purchased the house in the first place. If it is a joint ownership, then no, as the house does not form part of your estate. If you are a sole owner, then yes. I might prepare a video about that, as passing the estate appears confusing

[@josephherring3807]

🙀. Good grief! Not good news for singles

[@AboutRetirementTV]

being single is most certainly more difficult financially