The application of the means test to your income or assets means the difference between a higher or lower pension payment – or whether you receive one at all. We know the very term ‘taper rates’ is off-putting, so today we explain how your entitlements may change according to these very important rates.
It’s no surprise that just over three-quarters of retirees own their own homes; traditionally Australians have had a love affair with home ownership. What is surprising is that the value of the home in retirement is so often understated or overlooked.
A recent popular article on the way asset test changes mean more older Australians are now eligible for the Age Pension provoked a lot of interest. Today we look at the other side of the equation – the March 20 changes to the incomes test thresholds. When people reach...