Blog: Government Benefits

Blog: Government Benefits

Centrelink’s Granny Flat rules can help you.

1 September 2017 - posted in Aged Care and Government Benefits and Pre-Retirees and Retirees by John Oliver

A granny flat right is established when accommodation is provided in exchange for a payment or a transfer of assets. It is important that Centrelink has provisions for people to transfer assets or make payments to live with another person so that the transfer is not counted as a gift under the deprivation of asset rules.

Good news for Pension Concession Card holders!

23 August 2017 - posted in Government Benefits and Retirees by Sam Martin

People whose Age Pension ceased from 1 January 2017 due to changes to the assets test will be automatically reissued the Pensioner Concession Card (PCC).

Funding Aged Care for a spouse

4 July 2017 - posted in Aged Care and Government Benefits and Pre-Retirees and Retirees by Matt Kelly

There are 4 possible costs associated with a move into residential aged care, with 2 of those based on a person’s income and assets (refundable accommodation deposit (RAD) and means-tested care fee).

Changes to the Age Pension and Commonwealth Seniors Healthcare Card

8 June 2017 - posted in Government Benefits and Retirees by Sam Martin

Highlighted below are some important changes regarding both the Age Pension and Commonwealth Seniors Healthcare Card, effective 1 July 2017

Funding the cost of Residential Aged Care

12 May 2017 - posted in Aged Care and Government Benefits and Pre-Retirees and Retirees by Matt Kelly

Placing a parent or loved one into an aged care facility can be a stressful and distressing time for a family. It is not a pleasant financial experience either!

Additional 1 January 2017 CentreLink assessment changes for aged care recipients.

6 February 2017 - posted in Government Benefits and Retirees by Sam Martin

We are all aware of the recent 1 January 2017 asset test taper rate changes for CentreLink’s Age Pension recipients but there were additional changes affecting people entering aged care.

The Age Pension paradox

12 August 2016 - posted in Government Benefits and Investment Markets and Pre-Retirees and Retirees by Lachlan Harvey

The more you save, the better your lifestyle in retirement. …or at least that’s the conventional wisdom.

Commonwealth Seniors Healthcare Card - the silver lining to the Jan 2017 Asset Test changes

15 April 2016 - posted in Government Benefits and Pre-Retirees and Retirees by Sam Martin

From 1 January 2017 many retirees will lose access to the Age Pension due to CentreLink’s Assets Test changes. One very thin silver lining to all of this is that those who lose the Age Pension will automatically receive the Commonwealth seniors health card (CSHC).

Centrelink Asset Test change winners

24 March 2016 - posted in Government Benefits and Pre-Retirees and Retirees by Will Chapman

The new assets test changes from January 1 have been broadly communicated as affecting Age Pensioners which it certainly does for better and worse, mostly worse...

War of the Roses

30 November 2015 - posted in Government Benefits and Pre-Retirees and Retirees by Will Chapman

Whether it's the 1980's book or the movie, the War of the Roses tells the story of a couple who grapple with marriage separation and make each other miserable by both refusing to move out of the family home.

Redundancy – a blessing or a curse?

10 November 2015 - posted in Government Benefits and Investment Markets and Pre-Retirees by Brenton Miegel

I was taught at a very young age that there are two things that are certain in life – death and taxes! Something I have learned as a financial planner is that, whilst not a “certainty”, redundancies happen on an all too frequent basis.

Age Pension Changes - The Retirement Squeeze is Real!

29 October 2015 - posted in Government Benefits and Pre-Retirees and Retirees by Lachlan Harvey

For retirees I can't remember a time where legislation has conspired to create a more difficult environment to plan one's retirement. The squeeze is coming from all directions but particularly the ability to receive an Age Pension. The changes are happening gradually so year on year we hardly notice but between 2015 and 2017 major changes will be taking place.

Thanks for the journey!

30 September 2015 - posted in Government Benefits and Insurance and Investment Markets and Pre-Retirees and Retirees by Brenton Miegel

This week it marks a significant milestone for me as a planner.

Achieving Income and Estate Planning Security in Aged Care

25 September 2015 - posted in Government Benefits and Retirees by Sam Martin

Sam Martin shares the importance of well structured financial and estate plans to ease the confusion for those planning the move into Aged Care.

Shoot & Score! What are your retirement goals?

19 August 2015 - posted in Government Benefits and Pre-Retirees and Retirees by Brenton Miegel

As a financial planner I receive a lot of information via email or snail mail. Every so often something catches my eye and a little extra time is taken to read through and understand what it's about.

Pension changes and gifting rules

12 June 2015 - posted in Government Benefits and Retirees by Will Chapman

Since the announced Budget changes to the Assets Test for the Centrelink Age Pension, there's been some discussion in Financial Planning about gifting assets to get more Age Pension.

The real value in establishing good spending habits

5 June 2015 - posted in Government Benefits and Pre-Retirees and Retirees by John Oliver

While many of today's workers will be in the workforce for at least 40 years some recent studies have revealed that our income growth does not always occur on a steady incline throughout our working careers.

The inside story on the proposed Asset Test changes - Budget 2015/2016

26 May 2015 - posted in Government Benefits and Investment Markets and Pre-Retirees and Retirees by Lachlan Harvey

Here’s a scenario that has had me puzzled since the 2015 Federal Budget outlined massive changes to the Age Pension Asset Test.

Are you redeeming Workcover?

22 May 2015 - posted in Government Benefits and Insurance and Investment Markets and Pre-Retirees by Will Chapman

Changes to the legislation regarding Workcover SA entitlements on July 1 2015 mean that many people are considering taking a Redemption payment, which is essentially a lump sum payment to finalise the Workcover process.

How much is enough?

27 April 2015 - posted in Government Benefits and Investment Markets and Pre-Retirees by John Oliver

I have read some articles in recent newspapers that have indicated that $1 million is now not enough to retire and provide a comfortable income.

3 things the Government could change in 2015

9 April 2015 - posted in Government Benefits and Pre-Retirees and Retirees by Lachlan Harvey

With the recent release of the 2015 Intergenerational Report and the Government’s awkwardly titled tax discussion paper; Re:think one might get the uneasy feeling that things are about to change in a big way.

Changes to Deeming from March 2015

19 February 2015 - posted in Government Benefits and Investment Markets and Retirees by Lachlan Harvey

For pensioners that have their pension assessed under the income test there is some welcome relief coming in March as the deeming rates are reduced (slightly) to reflect the recent drop in the official cash rate.

Age Pension versus Disability Support Pension - What’s the Difference?

11 November 2014 - posted in Government Benefits and Retirees by Lachlan Harvey

Disability Support Pensioners are asked to make a decision when they turn Age Pension age - do they want to stay on the Disability Support Pension or change to Age Pension? What's the Difference?

Why did I choose Financial Planning?

20 October 2014 - posted in Government Benefits and Insurance and Investment Markets and Pre-Retirees and Retirees by Brenton Miegel

I'm regularly asked "how did you get into Financial Planning?" or "why are you a Financial Planner?". The short answer is that 'it happened purely by accident', but I have no regrets!!

Another year over, a new one just begun

3 July 2014 - posted in Government Benefits and Investment Markets and Pre-Retirees and Retirees by Brenton Miegel

Whilst it is no where near Christmas time (but just watch the next few months fly by) John Lennon's words are quite true - another year IS over and a new one has just begun.

New Centrelink Deeming Rules

1 July 2014 - posted in Government Benefits and Retirees by Sam Martin

People with an Allocated Pension and who are in receipt of a Centrelink Benefit prior to 1 January 2015 will be assessed under the current rules. That is to say they are grandfathered and no change will apply.

State Budget Overview

23 June 2014 - posted in Government Benefits and Pre-Retirees and Retirees by Will Chapman

There weren't many direct winners in the SA State Budget handed down on June 19.

Budget Summary

16 May 2014 - posted in Government Benefits and Pre-Retirees and Retirees

Now that the dust has settled on the recent Budget announcement, we can provide you with a summary of the proposed changes and how they may affect you.

Understanding Aged Care Fees

17 April 2014 - posted in Government Benefits and Retirees by Sam Martin

In a follow up from my last blog in January, I will attempt to point out the difference between the current age care fees compared to the new rules starting 1 July 2014.