[Steve]

perhaps this is a better place for this topic posting!
Hello….
Hoping this website solves many of my problems! – Hope I’m on the right site…
Brief background – Turned 66 in June…..1 month later I got retrenched! Decent payout – about 70K..
Spent a month delving into pension eligibility, jobseeker for my wife (62) etc etc….
So, I have visited Centrelink and eventually received a decent hour of advice….
I want to get full pension at 66.6, I’m aiming to also throw my wife onto JobSeeker….Maybe I’m right on the borderline for qualifying for both but have 1 tricky asset to assess….Can anyone answer/Confirm the following –
1.420 000 in assets is the magic figure to not go over — I have 300 in super, 70 in Cars, 5 misc, 20 cash

2. I have an investment unit on Gold Coast purchased 15 months ago for 500K…..I Airbnb it and that covers costs with no profits….but good lifestyle…
I have 500K investment loan on the property….

I have to value the property for Centrelink — I want to put 500 as the value….so no real equity and therefore no effect on my total asset….The only logic I can apply to it being worth the same as when I purchased it is — The unit sits in Palm Beach and it’s the only property that has been identified as to be acquired by Qld Roads when/if they put the Tram Line through (likely in 5 years’ time) — therefore its extremely hard to sell it on open market……Real Estate agent confirmed.

Do you think I can logically value it at 500 under these circumstances and maintain me under 420K asset benchmark?

Cheers for any advice — I’m hoping these forums can solve a lot of my questions and I look forward to pitching in as well!

Steve

[Author]

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