Originally Posted by
incisor
well they tell me you can start applying for the age pension 3 months before you actually get there
should make for a fun friday
anyone played the game recently ?
A couple of very important points to remember:
When declaring your assets, Centrelink expect you to value them at "firesale" value. In other words, your Rolls Royce may be worth $150k on paper and on a good day, however if you need to dispose of it quickly, (firesale) you may only get around $100k if you see what I mean.
Likewise, if you have a $2mill Rembrandt hanging on the wall which you inherited 50 yrs ago, it might pay to forget to include it in your assets.
Centrelink is very 'generous' when valuing your house chattels, ie, fridge, TV, lounge suite etc, and they accept around $8k or less.
When you do finally get it sorted, every 6 months go into your personal site and write down each of your assets around 5% or so (10% annual) or whatever % you deem suitable. This applies to car/s, caravan, boat etc. It's very easy to do even for an illiterate computer mug like me, and makes a difference.
Before: Ser 2a LWB, Ser 3 S/W, 1979 RR 2 door, 1981 LR Stage 1 V8 (new), 1985 LR 110 V8 County (new), 2009 RRS TDV8
Now: MY13 D4 TDV6. "E" rear diff. Cambo's magic Engine & Auto Tune.
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