Investment properties and pension

David is suffering from multiple sclerosis, but is worried he may have too many assets to claim the disability pension.

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Q. David
I am 60 and my wife is 63. I was diagnosed with multiple sclerosis in January 2015. I had to give up work and my wife is presently on long service leave on half pay. She gave up work to look after me and will retire in early 2019.

We have two investment properties valued at about $800,000 and have about $900,000 in superannuation.

Would I be entitled to obtain a Centrelink Disability Pension and my wife a Carer’s Allowance?

A. The Disability Support Pension and Carer’s Allowance are both subject to the income and asset tests. Both of your investment properties will be included in the asset test and the maximum allowable assets for a home-owning couple is $848,000. If you don’t own your own home the limit is $1,055,000. Your eligibility for a part pension payment may then be dependent on the value of your other assets.

If you have a Centrelink question, please send it to [email protected] and we’ll do our best to answer it for you.

Written by Ben

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