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What is a mortgage trust?
A mortgage trust is a unit trust investment where your money is pooled with that of other investors. The money is then invested by the manager of the trust in a range of mortgages.
The money is invested by lending to another party for the purpose of purchasing a property. In most cases the property will already exist...
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What is negative gearing?
Gearing simply refers to the act of borrowing money to invest. Negative gearing occurs when the expenses associated with an investment, including interest on the money borrowed, are greater than the income from the investment.
This means that you are making an income loss on the investment which is generally tax...
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What is the Income Maintenance Period?
Income Maintenance Period (IMP) treats lump sum payments for outstanding leave and redundancy received at termination of employment as assessable income for the period relevant to the leave and the weeks of pay included in the redundancy. The IMP commences on the day that you receive the leave...
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What is the Liquid Assets Waiting Period test?
The Liquid Assets Waiting Period (LAWP) is a period that you must wait before being paid an allowance (Newstart, Sickness and Youth Training), if you have ‘liquid’ funds above the threshold. The maximum LAWP is 13 weeks and is applied from the date that your employment ceased.
Liquid...
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In order to prevent you from simply giving away your assets to qualify for age pension and other social security benefits, Centrelink and the Department of Veteran Affairs have introduced rules that impact income support recipients who “gift” away their assets.
These gifting rules can be summarised as follows:
Two tests...
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