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I suppose you cant break the front door off and take it to buy a loaf of toast and 2 litres of milk
ta
rolf
This is still the case, it might be changing next financial year but I'm very sketchy on the details - if so, it might be worth us renting out our PPoR rather than selling it ($25k owing, possible $150pw rent).I was told by centrelink years ago if I was earning $400 wk rent and my holding costs of property were $400/wk centrelink would take rent into account as income but disregard my expenses.
Very, very likely. They make you wait based on liquid assets, they'll deem the share portfolio and your IP value is under their 'rich' cutoff (about $250k I think). You'll get a part payment I'd imagine depending on what they deem your shares to be earning you - you can make up to ~$30pw before they cut you down.how about me?
Can I take centrelink?
With Centrelink your PPOR is exempt. So yep you can own and live in a multi million dollar palace and still get a payment.
Also have known someone who owns a few houses and his family currently rent.
He is able to claim rent assistance with their family payment (subject to income levels).
With Centrelink your PPOR is exempt. So yep you can own and live in a multi million dollar palace and still get a payment.
I suppose you cant break the front door off and take it to buy a loaf of toast and 2 litres of milk
Could you LOE of your multimillion dollar palace and still get a payment?
With Centrelink your PPOR is exempt. So yep you can own and live in a multi million dollar palace and still get a payment.
I suppose you cant break the front door off and take it to buy a loaf of toast and 2 litres of milk
Could you LOE of your multimillion dollar palace and still get a payment?
who will lend you money on the back of your centrelink income? particularly when your equity is going backwards.
reverse mortgage? Supercharge your reverse mortgage - leverage up a falling asset. ugly stuff