The Meeting Place > Government & Centrelink > Reducing Assets

Reducing Assets

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AJ
6 yrs ago

My home is currently unmanageable for my wife and I as I have a disability. We are both over 65 and are considering moving to the coast where a new home will probably be $200, 000 more. If we use a portion of our self managed super to fund this move, will our assets be lowered for Centrelink/aged pension purposes under the new 01July 2017 rules??

4 comments
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catsahoy
6 yrs ago

couldnt tell you,   but your best bet would be to have a word with centerlink,  r get al the brochers they have,   bound to be something in them that will tell you,    

I'm no expert, but I believe if you make a lump sum drawing from super to fund the purchase of a more expensive home Centrelink will reassess your assets at a lower level and your pension entitlement will increase accordingly Ask Centrelink to refer you to a Financial Services Information Officer. They are very helpful.

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AJ
6 yrs ago

Thanks Rainey

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AJ
6 yrs ago

Thanks Rainey

Good luck

let us know how it turns out and what centerlink say 

I think AJ was speaking to Rainey and thanking her????

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