22nd Jun 2010
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Do we need to downsize?

Q. Lyn and Graeme
Two years ago my husband and I bought a home on four hectares. He has been on a Disability Support Pension for some years and I have been on Newstart.
I am now eligible to apply for the Age Pension but have just read the application form and have seen a notation that states that "assets do not include the value of the home in which you live (where the total of land area is up to two hectares) we're worried that we will have to sell up.

A. Provided by Centrelink
Without knowing all the details about your individual circumstances it is difficult to determine your eligibility. Generally speaking, your principal home and adjacent land needs to be under two hectares and on a single title document to be exempt from the assets test. However, in some cases a customer's whole property (of more than two hectares) may be exempt from the assets test if they meet certain criteria.

A fact sheet with further details can be found by clicking YOURLifeChoices simple short cut

For further clarification about your individual circumstances, you should contact a Centrelink Financial Information Services officer on 13 2300.







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