Gifting

How Centrelink treats Gifting.1 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 apply gifting rules that impact income support recipients. These rules can be summarised as follows: Two tests apply in respect of assets gifted: a maximum of $10,000 in gifts is allowed in a single financial year (for both [...]