Transitioning to retirement

Discussion in 'Investment Strategy' started by Tim & Chrissy, 20th Feb, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
Page 5 of 5
  1. Tim & Chrissy

    Tim & Chrissy Well-Known Member

    Joined:
    5th Dec, 2015
    Posts:
    1,022
    Location:
    NSW
    Fraud by definition involves deception. There is no deception involved here. All assets were declared to Centrelink at time of applying for pensioner bonus scheme, gifting of asset was also declared to Centrelink and in turn they include it in the assets test for 5 years.
     
    Tim & Chrissy, 22nd Feb, 2016
    #81
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,001
    Location:
    Australia wide
    Terry_w, 22nd Feb, 2016
    #82
    Tim & Chrissy likes this.
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,001
    Location:
    Australia wide
    Paul's post reminded me of another strategy. If there are disabled children in the family then a special disability trust may be able to be set up with the assets gifted to the trust no longer counted for social security purposes (ie no 5 year rule) under certain circumstances.
     
    Terry_w, 22nd Feb, 2016
    #83
    Sackie and Tim & Chrissy like this.
  4. WalkaMile

    WalkaMile Member

    Joined:
    22nd Feb, 2016
    Posts:
    14
    Location:
    Indianapolis
    The could probably generate a lot more income from those properties via Air B &B. It is a lot more work, but you could probably bring in 3 x more per month than month to month rent.
     
    WalkaMile, 24th Feb, 2016
    #84
    Tim & Chrissy likes this.
Page 5 of 5