Disability Support and Age Pension Increases September 2017

Disability Support and Age Pension Increases September 2017 by Christine Hopper The Commonwealth has granted Centrelink Disability Support and Age Pension increases September 2017. DVA Pension and Income Support Supplement also increase from 20 September 2017. The full rates of income support Pension benefits increased by 0.7%. The Pension related daily care fees for Commonwealth regulated[…]

SRS Supported Residential Service private guest house

SRS Supported Residential Service private guest house SRS Supported Residential Service private guest house by Christine Hopper Living in a SRS Supported Residential Service private guest house is an alternative to residential aged care. Each SRS Supported Residential Service private guest house is independently owned and operated. Accommodation and housekeeping in a SRS Supported Residential[…]

Age Pension means test allowance increase July 2017

Age Pension means test allowance increase July 2017 by Christine Hopper Age Pension means test allowance increase July 2017 The Pension Allowances are the starting points for the Income Test and Assets Test that can reduce the amount of DSP or Age Pension actually payable. Pension Allowance amounts increased slightly on 1 July 2017. This means[…]

Age Pension Assessable Assets

Age Pension Assessable Assets By Christine Hopper Your Age Pension entitlement is reduced if your Age Pension Assessable Assets exceed the Asset Test Allowance. At Centrelink, Age Pension Assessable Assets include all that you clearly own together with items that you own indirectly. The Age Pension Assets Test is changing from January 2017. Seniors losing[…]

January 2017 Pension Asset Test changes

January 2017 Pension Asset Test changes by Christine Hopper The January 2017 Pension Asset Test changes include new higher Asset Test Allowances and a higher taper rate. As a result of the January 2017 Pension Asset Test changes some Pensioners could get a higher Pension payment.  But some Pension payment rates will be reduced following[…]

Disability Support and Age Pension Increase September 2016

Disability Support and Age Pension Increase September 2016 by Christine Hopper The Commonwealth granted Centrelink Disability Support and Age Pension increases on 20 September 2016.  DVA Pension and Income Support Supplement also increases from 20 September 2016. The full rates of income support Pension benefits increased by 0.4%. The Age Pension related daily care fees for[…]

Granny flat housing payments

Granny flat housing payments   by Christine Hopper Granny flat housing payments, if Mum sells her home and lives with us, can she pay us? If Mum sells her home and lives with us then we could be considered to have entered a ‘granny flat arrangement’. Special rules apply to Pensioners who live in granny[…]

Lifestyle community accommodation

Lifestyle community accommodation by Christine Hopper Retirees are choosing to live in lifestyle community accommodation rather than stay on in the family home. But what type of housing is available in a lifestyle community. Lifestyle community accommodation includes any separate ‘community’ of individual independent living residences. Older lifestyle communities were known as retirement villages with[…]

MyPost Concession Postage

MyPost Concession Postage by Christine Hopper In January, 2016 Australia Post increased postage prices except for the MyPost Concession Postage customers.  At the same time, the delivery schedule for the new “regular” service became at least one business day slower than the 2015 standard delivery schedule. Yes your letter could go as fast as the[…]

Disability Support Pension Eligibility

Social Security customer notification forms

Social Security customer notification forms   by Christine Hopper Social Security customer notification forms Social Security customer notifications are an essential part of the means testing system for income support benefits and health care cards. Centrelink administer the Australian Social Security arrangements. Centrelink pays income support and issues the associated health care concession caeds only[…]

Lifestyle community retirement village costs

Lifestyle community retirement village costs by Christine Hopper Lifestyle community retirement village costs Moving to a lifestyle community retirement village is an opportunity for a new lifestyle. But what are the actual Lifestyle community retirement village costs. Every lifestyle community retirement village costs are specific to that facility. You expect your chosen lifestyle community retirement[…]

Centrelink Pension Allowance Increase July 2015

Centrelink Pension Allowance Increase July 2015 by Christine Hopper The Centrelink Pension Allowances are the starting points for the Income Test and Assets Test that can reduce the amount of DSP or Age Pension actually payable. Centrelink Pension Allowance amounts increased on 1 July 2015. This means that a Centrelink Pensioner could have more Income and[…]

Age Pensioner financial assets for income deeming

Age Pensioner financial assets for income deeming   by Christine Hopper Why define Centrelink Age Pensioner“financial assets”? Centrelink Age Pensioner Income Tests use the deemed financial income from your financial assets rather than your actual earnings from financial assets. Therefore, you need to identify your Centrelink Age Pensioner financial assets before you could calculate your deemed[…]

Granny flat arrangement ending

Granny flat arrangement ending   by Christine Hopper Granny flat arrangements At Centrelink, a granny flat arrangement provides for a senior person, the ‘granny flat resident’, to live for the remainder of her life in accommodation provided by the ‘granny flat host’. The granny flat resident usually contributes a lump sum ‘ingoing contribution’ towards the[…]

Centrelink Pension Loans Scheme

Centrelink Pension Loans Scheme

Centrelink Pension Loans Scheme   by Christine Hopper Centrelink Pension Loans Scheme The Centrelink Pension Loans Scheme is available to part Pensioners whose Pension amounts are reduced on account of either the Asset Test or the Income Test but not both. Permanent Australian residents who have attained Age Pension Age but are excluded from the[…]

Seniors rental housing

Seniors rental housing By Christine Hopper On retirement affordable seniors rental housing could be hard to find. Who is looking for seniors rental housing After retirement, private sector tenants might not be able to afford the rent for the home they had leased for many years. The rent required for a nice home unit in[…]

Allocated pensions Centrelink account based income streams

Allocated pensions Centrelink account based income streams   by Christine Hopper Allocated pensions also known as Centrelink account based income streams Allocated pension accounts allow retirees to retain the advantages of a superannuation fund account whilst drawing out a personal pension. Allocated pension accounts are also known as allocated annuities and Centrelink account based income[…]

Centrelink Pension Loans Scheme

Pensioner Homeowner principal residence exemption

Pensioner Homeowner principal residence exemption   by Christine Hopper Pensioner Homeowner principal residence exemption for one land Title The DVA and Centrelink homeowner principal residence exemption applies only to your principal residence and the first two hectares of land covered by the single land Title that your home is on. For pension assessment purposes, your assets include real[…]

Retirement reverse mortgage debt

Retirement reverse mortgage debt by Christine Hopper In retirement reverse mortgage debt can appear as the ‘solution’ to a pattern of spending more than your regular retirement income. On retirement from full time work we each need to develop a new pattern of spending time and money. Suddenly we might find that we have more[…]

Independent aged care financial advice

Independent aged care financial advice   by Christine Hopper Independent aged care financial advice is advice about the financial aspects of your specific situation. Professional financial advisers consider your particular situation and advise you on the financial implications of your options. An independent professional aged care financial adviser shows you the costs of your preferred[…]