Centrelink Rules Re: Gifting

[freddie*rooster]

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?

[azureline**]

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.

[freddie*rooster]

Thanks Az...

[azureline**]

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

[freddie*rooster]

I've sent you a PM Az thanks.

[azureline**]

replied 🙂

[purple_haize]

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.

[freddie*rooster]

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