How to legally HIDE YOUR ASSETS from Centrelink Age Pension if based on assessment, you know, that you just simply have too much money.
So here you are, getting ready for the exciting day, when you can finally say, “I can retire now and where is my Age Pension?”, and then to your horror, you find out you have too much savings.
My very first recommendation is: organise your money before your first visit to the Centrelink office or completing your application online. Prepare your assets in advance, so you know your entitlement before Centrelink even comes back to you with the reply. It is so much easier to deal with Centrelink when you know the application is final and you do not have to go through changes, updates, fixing mistakes, reshuffling of money etc.
So what can you do if you’ve calculated that you do have too much savings, but your goal is to get at least part Age Pension, if for no other reason, but at least to have access to the Health Care Card with all its benefits and discounts.
Here are 9 ways how you can legally hide your assets, to improve your Age Pension position:
00:00 Age Pension - Income and Assets Tests
03:50 Gifting
05:50 Home exemption
07:15 Home renovation
07:40 Debt against exempt asset
08:50 Your expenses
09:50 Funeral Bonds or funeral expenses
11:00 Superannuation
13:02 Annuities
14:05 Special Disability Trust


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