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  1. Helen

     /  January 22, 2018

    Can when my husband finishes his working life at 66 ( in 2years time ) transfer his super into my super account as I’m only 55 and would be still in the accumulation phase of super so we can maximise the amount he can get on the aged pension thanks Helen


    • Short answer is yes and a good plan where there is an age difference but you need to get personal advice to ensure the strategy is right for your family and circumstances. You are locking funds away for 5-10 years minimum in return for possible higher age pension entitlements. You need to ensure you get it right. An early inheritance, changes to legislation and a number other issues could mess up your plans.


  2. Suzanne Burrows

     /  January 15, 2018

    on 18/11/16 I borrowed $200,000 from my mother who is on an aged part-pension. I pay her interest at the rate of 3% which is almost twice the rate she was receiving on this money in the bank. I pay her back $200 per week which helps with her nursing home fees and reduces the need to draw down on her cash investments. This amount is made up of principle and interest. As a loan this amount remains an asset for Centrelink purposes.
    On 25/12/16 she gifted to me $10,000 in the form of forgiveness of principle owing. Centrelink was informed. When I update her assets I also update the balance owing on the loan.
    I would like to repeat this gifting process to hopefully get Mum a bit more pension. The reduction of principle would also result in a very small reduction of interest for me. I would seem to be within the rules for both the yearly limit and the five year limit. Can you confirm that and would this result in an increase of Mum’s pension?

    Thank you


    • Susanne, you should ask a Centrelink Financial Information Service Officer to look at your mum’s situation for certainty but a person is allowed gift $10’000 per year up to $30,000 in a rolling 5 year period. Within these rules a gift of $10,000 would reduce assets under the asset test and result in more pension if the person is asset tested.



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