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That is a good question. I don't know the answer off hand. Giving a life interest is a capital gains tax event as is surrendering it later. If the main residence exemption applies then this may flow through. Receiving money for the interest you are granting could be income but there would...

I wouldn't like to speculate on the figure in case I am wrong. Why not make an appointment with a Financial officer at Centrelink and run through it all with them. They are very helpful from what I hear.

Did you see the attached document from Centrelink? Not sure if it is still current.

I've just completed a course in Elder Law which covered many of the issues including the granny flat cases. There are many many things to consider such as: - centrelink issues. If set up properly they could still retain the pension. If not done properly they would lose it. eg. if they...