by Affinity Aged Care | Jul 28, 2015 | Media |
As a member of the Affinity Aged Care Advice Team, Danni Dixon outlines some of the services we can offer clients and their families looking to make a move into residential aged...
by Affinity Aged Care | Jul 15, 2015 | News |
Overview In May, the Federal Government handed down its annual budget. Income tax rates were left unchanged and no new taxes on superannuation were introduced. The budget delivered mixed news for people currently receiving the age pension. The Government has decided not to proceed with the indexation of the Age Pension payment rates linked to inflation only. They will also maintain the current deeming thresholds. In addition, the Assets Test threshold for the full pension will be increased. However, the maximum level of assessable assets for a part Age Pension will reduce. Pensioners who lose their pension entitlement will automatically be issued with a Commonwealth Seniors Health Card. Please refer below for details. The announcements are proposed changes which will require passage of legislation before it can be implemented. Increase in Assets Test Threshold From 1 January 2017, the Assets Test thresholds for the full pension will be increased. The current and proposed thresholds are detailed below: Assets Test threshold for full pension(20 March 2015) Assets Test threshold for full pension(1 January 2017) Single, homeowner $202,000 $250,000 Single, non-homeowner $348,500 $450,000 Couple, homeowner $286,500 $375,000 Couple, non-homeowner $433,000 $575,000 An increase in the Assets Test thresholds for full pension means retirees can have a greater amount of assets (in addition to the family home) before their pension entitlement is reduced. Increasing of the Assets Test taper rate From 1 January 2017, the Assets Test taper rate will increase from $1.50 to $3.00, effectively reversing the 2007 decision to halve the taper rate at that time. The current and proposed thresholds are detailed below: Assets Test threshold for part pension(20...
by Affinity Aged Care | Jun 3, 2015 | Media |
Affinity’s Aged Care Adviser, Don Swanborough was asked for his thoughts on providing specialist aged care advice. Read article ...
by Affinity Aged Care | Jun 3, 2015 | News |
Inside this edition we examine the impact the potential changes to the age pension will have. We also look at the pros and cons of not disclosing your financial position when moving into residential aged care. Full Report Here...
by Affinity Aged Care | Feb 26, 2015 | Media |
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