Centrelink Rules Re: Gifting

freddie*rooster
Community Member

on ‎04-06-2014 11:10 AM

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?

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azureline**
Community Member

on ‎04-06-2014 11:16 AM

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.

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freddie*rooster
Community Member
In response to azureline**

on ‎04-06-2014 11:19 AM

Thanks Az...

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azureline**
Community Member
In response to freddie*rooster

on ‎04-06-2014 11:20 AM

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

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freddie*rooster
Community Member
In response to azureline**

on ‎04-06-2014 11:32 AM

I've sent you a PM Az thanks.

azureline**
Community Member
In response to freddie*rooster

on ‎04-06-2014 11:51 AM

replied 🙂

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purple_haize
Community Member
In response to azureline**

on ‎04-06-2014 12:27 PM

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.

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freddie*rooster
Community Member
In response to purple_haize

on ‎04-06-2014 12:31 PM

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

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