topic Re: Centrelink Rules Re: Gifting in Community Spirit

Centrelink Rules Re: Gifting

freddie*rooster — Wed, 04 Jun 2014 01:10:42 GMT

I know an aged pensioner can gift $10,000 over a 12 month period without penalty and $30,000 over a 5yr period, but what would be the penalty if they wanted to gift say $70,000?

Re: Centrelink Rules Re: Gifting

azureline** — Wed, 04 Jun 2014 01:16:57 GMT

As I understand it, it then comes under the Deeming rule and will affect pension payment.

Deeming is used to assess income from financial assets to help work out the amount you receive from Age Pension or Service Pension.

Re: Centrelink Rules Re: Gifting

freddie*rooster — Wed, 04 Jun 2014 01:19:21 GMT

Thanks Az...

Re: Centrelink Rules Re: Gifting

azureline** — Wed, 04 Jun 2014 01:20:40 GMT

You should be able to phone and speak to a Centrelink Financial Information Service Officer.

Re: Centrelink Rules Re: Gifting

freddie*rooster — Wed, 04 Jun 2014 01:32:19 GMT

I've sent you a PM Az thanks.

Re: Centrelink Rules Re: Gifting

azureline** — Wed, 04 Jun 2014 01:51:40 GMT

replied 🙂

Re: Centrelink Rules Re: Gifting

purple_haize — Wed, 04 Jun 2014 02:27:39 GMT

Freddie, my aunt was able to dep. over $100.000 into my mortgage account, with no problems, after she met and spoke with centreling finacial person..........there is a way around these things.

Re: Centrelink Rules Re: Gifting

freddie*rooster — Wed, 04 Jun 2014 02:31:09 GMT

Thanks PH I will give the Financial Support people at Centrelink a call.