Simpler means-testing forms from LifePath Financial Planning
,

Simpler means-testing forms

Simplification in aged care rules is always a positive outcome. The government has just released new means-test forms for clients accessing residential or home care services which may make the process much quicker and simpler. The new forms…
Pensioner concession card reinstated

Pensioner concession card reinstated

Did you, or a member of your family, have the Pensioner Concession Card cancelled because of the changes to the asset test? If so, it’s time to check your letterbox for a pleasant surprise. If you’re retired or close to retirement, you’ll…
Understanding the medicare levy

Understanding the Medicare Levy

Medicare is Australia’s publicly funded national healthcare system. The Federal Government funds the system by charging taxpayers a levy on top of their annual income tax. Thanks to this levy, all Australians can enjoy access to quality health…
, ,

Centrelink impact of renting the former home

Residents who move into residential aged care from January 1, 2017 and rent their former home will receive less generous Centrelink/Department of Veterans’ Affairs (DVA) assessments due to changes that are now effective. The Omnibus Bill,…
New asset test rules in effect

New asset test rules in effect

The new Centrelink/Department of Veterans’ Affairs asset test rules came into effect on January 1, 2017. This increases the taper rate back to the pre July 1, 2007 rate of $3 per fortnight for every $1000 of assets over the lower threshold. As…

Pensioner winners and losers

The biggest changes to the pension asset test in 10 years will occur on 1 January next year. Whenever the government makes such drastic changes it creates winners and losers (and some that stay the same, but worry about the changes nonetheless).…

Changes passed to Centrelink impact of renting the former home

Residents who move into residential aged care from 1 January 2017 and rent their former home will receive less generous Centrelink/DVA assessments due to changes now passed into law. The Omnibus Bill which received Royal Assent on 16 September…

Centrelink Asset Thresholds are Changing

If you are over, or close to, 65 years of age, it is important that you and your Financial Adviser have a plan in place in preparation for any impact the changes the Government has introduced to the age pension assets test might have on your…

Changes to the Social Security Asset Test

Important changes to the social security asset test effective 1 January 2017 have passed through parliament. The Government has called the changes ‘rebalancing the asset test’ as they aim to increase entitlement for those with lower levels…
,

Social Security Frequently Asked Questions

Social security rules can sometimes be complex and difficult to source. Here we provide answers to some of the social security means testing questions frequently received by our advisers.