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  Government BenefitsAge Pension - TaxPack Q6Gifting, Granny Flats & Funeral Expenses      Monday, 17 May 2021  

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Gifting, Granny Flats & Funeral Expenses


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The Gifting Rules (Asset Deprivation)
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Funeral Bonds, Prepaid Funeral Expenses & Burial Plots
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Retirement Village and Granny Flat Residents
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If your entry contribution to a retirement village or granny flat is equal to or less than the extra allowable amount at the time of entry, you are assessed as a non-homeowner for Centrelink purposes.  Your entry contribution will count as an asset for the assets test.  You may qualify for rent assistance.  The extra allowable amount is the difference between the non-homeowner and homeowner assets test thresholds at the time the entry contribution is paid.

Year

Extra Allowable Amount

1/7/20 – 30/06/21

$214,500

1/7/19 – 30/06/20

$210,500

1/7/18 – 30/06/19

$207,000

1/7/17 – 30/06/18

$203,000

1/1/17 – 30/06/17

$200,000

1/7/16 – 31/12/16

$151,500

1/7/15 – 30/06/16

$149,000

1/7/14 – 30/06/15

$146,500

1/7/13 – 30/06/14

$142,500

1/7/12 – 30/06/13

$139,500

1/7/11 – 30/06/12

$135,000

1/7/10 – 30/06/11

$131,500

1/7/09 – 30/06/10

$129,000

 


This page was last edited on 4 January 2021

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