Selling my large workshop contents How will this affrect my pension?
As a retired grad engineer At 78 I am being forced to sell off my mechanical , woodworking and electronic workshop equipment from the rental property I am in
I have collected these over many years and have paid taxes on them at the time . I need to do this to finance an increase in rent expected soon which will diminish my affordability to operate and of my now inability to shift to a cheaper area as I need a property with a large workshop in good condition to continue what is a hobby to me and which keeps my mind healthy and active
I estimate the equipment to be worth, at the xpected heavily discounted sell rate , to be around $35k TO $40k (lathes, milling machines and top end electronic test instruments which are still desirable items to the engineering community)
eBay sale would likely return the most money, but I am concerned that this may impact severely on my pension and would value informed comment on the matter.
One purpose of the sale MAY be to leave Australia and take up residence overseas as an "economic refugee" where the sale money may allow the necessary deposit in a foreign bank as is required before a residential visa is given and which requires a minimum pension income of which the current levek just squeezes in as acceptable and if reduced means I would not qualify
Thanks in advance for your comments