Budget Highlights 2013

Budget Highlights 2013 The following items, Budget Highlights 2013, were extracted from the 2013 Budget announcements by the Federal Treasurer, as likely to be of interest to our readers. We invite comments on any of the measures and, as usual, are available to review any that directly affect you to assess their impact on your wealth management (including estate planning) strategies. Budget Highlight: Taxation Measures - Replacement of existing Baby [...]

By |2020-08-05T14:04:56+10:00May 15, 2013|Market Updates|0 Comments

Deeming

What is deeming? Deeming is the term which describes the method used by Centrelink and Veteran’s Affairs to calculate your Income Test assessable income from certain investments when determining the level of entitlement to be paid. Deeming means that you are assumed to earn a certain return on ‘financial’ investments, irrespective of the actual rate of interest or capital growth you earn. If you earn more than the deemed rate [...]

By |2019-12-10T16:29:00+10:00January 13, 2010|Social Security|0 Comments

Disability Support Pension

What is the Disability Support Pension (DSP)? The Disability Support Pension (DSP) aims to provide a level of support to people whose physical, intellectual or psychiatric impairment prevents them from working. This pension is also payable to people who are permanently blind. The rate of DSP and the income and assets tests are the same as for the Age Pension; and likewise, the benefit payment is administered by Centrelink. Recipients of [...]

By |2021-12-13T11:45:51+10:00January 13, 2010|Social Security|0 Comments

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 [...]

Newstart Allowance

What is the Newstart Allowance? Newstart Allowance1 (NSA) serves to support those who are actively seeking employment or participating in approved activities intended to increase your chances of finding paid employment. Newstart Allowance is a Commonwealth Government benefit administered by the Department of Human Services, through its Centrelink agency. Eligibility criteria for the Newstart Allowance Certain criteria must be met before the applicant becomes eligible and these include: Aged 22 [...]

By |2017-07-31T11:40:08+10:00January 13, 2010|General, Social Security|0 Comments
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