The Home Equity Access Scheme lets older Australians, who are Age Pension age or older, get a voluntary non-taxable loan from Centrelink.
It is secured by the equity that you have in Australian real estate.
You can choose to get the loan amount as:
a … Read the rest
Changes in Australian Aged Pension Rates between 2016/2017 and 2024/2025.
The Australian Age Pension is available to seniors whose income is considered low. It is increased every 6 months, in March and September.
These are the rate changes since March 2016.
From 20 September 2024, the Australian Age Pension is to rise by $28.10 per fortnight, for the single person rate. This is from $1,116.30 up to $1,144.40 per fortnightly payment.
The rate for each member of a couple is to rise by $21.20 … Read the rest
Centrelink customers with assets over $686,250, may be entitled to claim a changed asset limit by Pre-paying for their funeral.
This could save them up to $780 per year, based on paying $10,000 as a prepaid funeral plan.
This payment would reduce their assessable assets for the … Read the rest
Most employees in Australia, whether full time, part time, casual, Permanent of Temporary resident, are entitled to compulsory superannuation (super) contributions from their employers.
This was brought in by the Labor government, (who held power between 11th July 1987 and 2nd March 1996), … Read the rest
The Australian Age Pension increases every year in March and September.
Following the latest release of the cost of living figures from the ABS, it is expected that the maximum Australian Age Pension will increase, in March 2024, by:
Eligibility Age for the Age Pension.
The eligibility age for the Australian Age Pension became 67 years on 1 July 2023.
This means that if you were born on or after 1 January 1957, you must be 67 years old to be eligible for Age Pension.
It began to change … Read the rest
From 20 September 2023, the Australian Age Pension will rise by $32.70 per fortnight, for the single person rate.
That results in an annual increase of 6.82% from September 2022.
The single rate of the Age Pension, with supplements, will increase by $32.70 per fortnight – from $1,064 to $1,096.70… Read the rest
The eligibility age for the Australian Age Pension will become 67 years on 1 July 2023.
This means that if you were born on or after 1 January 1957, you must be 67 years old to be eligible for Age Pension.
From 20 March 2023, the Australian Age Pension will rise by $37.50 per fortnight, for the single person rate.
That results in an annual increase of 7.74% from March 2022.
The inflation rate to Dec 2022 according to the ABS was 7.8%.
Base pension rates are indexed to the higher … Read the rest
