Hi Kay

yes I have to be really careful, Centrelink is not known for their compassion and understanding! I have a friend who is really knowledgable about money matters and investing and stuff and she is advising me. I will probably buy a few shares and that way I can still keep within the rules!

I live in the Illawarra, I don’t know if anyone…[Read more]

On my pension, I can earn about $140 a fortnight. $212 dollars a fortnight is for a couple.

Before it affects my pension the asset test allows me to have $149500 in assets and $302500 before my pension cuts out. (This is the rules for a homeowner as I already own my own house)

The thing is under the income test, under the deeming rules, about…[Read more]

Hi Kay Henry,

I can’t really buy RE because there is an assets test. I am only allowed to have about 140,000 worth of assets before my pension is affected and since, because I have no way of earning an income due to health reasons, I have to stick to the rules!!

It’s really annoying!!

Cheers

canneram

Yes I have a third share in the house (my parents own the other twothirds) and we are paying it off together.

We sold a unit my parents owned in Sydney but that wasn’t quite enough to pay for the house so we took out a $50000 loan in Nov 2001 and that should be paid off by the end of the year. We have been paying absoultely everything towards it…[Read more]