What are the biggest challenges that people face when they apply for the Age Pension? In this 5 minute interview, Jacqueline not only answers this question but provides just one example of how this challenge can play out without good advice.

Regardless of whether you are choosing to give away assets and/or income for altruistic reasons or for reasons relating to how you are means tested, it is important to understand the rules around disposal of assets.

Provided is a list of exempt assets taken directly from the Department of Human Services website. Not as useful as you would think because there are so many exceptions to the rule.

Providing a list of assessable assets may not be as useful as you might hope. It is not that the list of assessable assets is difficult to provide. It is knowing what value to declare on each assessable asset that can be the challenge.

It seems most people are aware that an age pension recipient’s principal home is exempt for asset test purposes. But when is a principal home not a principal home?