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There is a big difference between some young person who doesn't want to work and an older person retired (maybe after working 40 years).

And Pixie don't forget to consider Centrelink issues. There is an income test and an assets test which affects pensions. Selling the house and putting the money in the bank could reduce the pension - or it may actually increase it, depending on the circumstances I guess.

Actually an adult could earn up to $20,542 in taxable income and not pay tax because of the low income tax offset of $445. And if you are lucky enough to be a senior, pension age I think, then you can earn up to $32,279 pa and not pay tax (singles or $28,274 each for couples).