What is so frustrating in this issue is the fact that properties say 40klms out of Perth are much cheaper as the land values are lower.

But where, as Seniors do we need to live?

We need to live near conveniences of Hospitals, Doctors, Physio Therapist and the like.

What small business is going to put money into retail outlets unless there is a lot of young people as we Seniors ask for discounts!    People go into small business to make money.

We need to live closer to facilities, but property values increase nearer these facilities.  Public transport in the outer subs of Perth is not that brilliant.  But as Seniors we of all people need it as we get older, just incase they take our driving licenses away due to health issues.

Some people seem to have the convenience of having help/care visit them in their homes, but is this a free bee from the Federal Government??

When I was in hospital recently the topic came up with a question from the nurse...

'don't you have children near by to help you?'  No was the reply.

With one son in Sydney, another working in the city, another running his own business, a daughter with a new baby and another daughter further south of Perth with her own problems.  Having spoken to others in a similar situation, it is amazing how many Seniors have their adult children in Europe or the USA or inter state. 

People travel far and wide these days and do not sit around waiting for their parents to need them.

if anyone is interested, the public can view the assets of current members of parliament and senate.  the info is available here .....

http://www.aph.gov.au/Senators_and_Members/Members/Register

paragraph 3 on each member's document shows their real estate holdings. 

it is no wonder that the liberal, national and labor parties want to keep negative gearing and reduced capital gains tax (ie legal tax avoidance).  with so many large property investments they also want to keep house prices high.

its OK for some!

Perhaps as we here in WA are about to have an election, this topic should be asked of all our hopefulls that want to be elected in March?  Ask where they sit in the topic of Debt to the state if property is in the negative?  This is a  state issue not a Federal issue.  Or ask the Councils.  Property becomes in debt if the Rates are not paid.  Not sure how many years that this can go on with a Council, but there comes a time when the Council puts the property up for sale.

The Pension is a Federal issue, but debt to the state for tax or Rates are the Councils worry.

Kika hi.

Are you talking about a reverse mortgage?

I don't know that much about this.   Perhaps talking to your Bank may be a good idea they may know more about this.   Or to the local MP.

My aunt did it and I did not like to ask my cousin anything about it.  All I know was the property was put on the market after she died.  My husband says that all the bank will want is to cover their outlay so it can be sold below the value of the property at the time of the auction.

The age pension qualifications ... such a vexed question. 

• Should it be restricted to those who have the most need without a thorough lifetime vetting of why 'they have the most need', e.g. from disabilities to lifestyle choices?

• Should those who spent most of their life working and paying taxes get priority?

• What if the earners spent all their hard-earned money having a ball with no thought of the future?

• Should those who spent most of their life on welfare without 'good reason' continue to the AP?

• What about the 'do-withouters' who scrimped and saved to finally own their own home. Should they now be 'penalised' for their efforts because of rising real estate values?

• Should a very reduced aged pension be paid to all after 70 if they have resided here for 35+ years (or a proportion like the 'overseas pension rates' payments policy) with certain additional payments assessed for the wide range of circumstances?

• Should the hard-earned 'roof over our head' be use as a political/policy tool? No bloody way IMO.

What a minefield!!

I think the ACCI needs to be reminded that business benefited from the labour of lower paid workers who spent their lives toiling for far less reward than they were worth so businessmen could profit and prosper. The contract that was entered into promised these lower paid workers a fully taxpayer-funded retirement as part compensation for offering their labour at relatively cheap pay rates. To now STEAL their homes instead of honouring that contract would be reprehensible. How about the businesses and wealthy who profited from that contract forfeit a large part of their estate instead? How about they pay compensation for breaching the social contract that benefited them for decades?

The other consideration ACCI is ignoring is that if you remove incentive and reward you increase irresponsible and dishonest conduct that imposes costs on society. What will there be left to strive for when we can't retain the homes we spent 30+ years paying off and we are stripped of our savings? When all the lower paid workers decide it just isn't worth the effort, then who builds our roads and cleans our public buildings and maintains our power and phone lines?

In a capitalist society, there needs to be a strong incentive to work. There needs to be a promise that those born disadvantaged can work hard and lift themselves up and pass on to their children so that their kids have a better life. If we lose that, we lose all the benefits capitalism has traditionally offered and we denigrate to a Communist society in which the rich are overindulged, the poor are fed crumbs and insulted, and the middle and upper working classes are crushed. We fought against Communism, and now far too many are embracing it (though not using its name) out of greed and selfishness.

That said, the family home SHOULD be included in the assets test in order to stop people plunging excessive wealth into houses to claim pensions that the honest folk who accept modest accommodation are denied. But we need  total restructure of the entier pension system. Quick-fix bandaid solutions dreamed up by the elite don't cut it. The government already created an impending disaster with the assets test change - which is going to send pension costs skyrocketing. The ACCI proposal will just compound existing problems. What we need is innovative thinkers who don't have a selfish vested interest in screwing the working class to fund fatter handouts to the wealthy.