Th asset test is a TAX on any pensioners who invest independently. What it does it is estimate money you invest and then they reduce your pension , so low that you are going to use your savings,it is similar as the ROBODEBTS. The pensioners benefits with a full pension are the ones that, with the family make out that don't have any money because they transfer money to the family. The money became FAMILY TRUST FUND, this started for the well heel but over time other decided to do same
Shouldn't the age pension be for people who have nothing, not for the rich, If you have 450 thousand or a million in assets or in your bank account you are rich.
Very good info thanks.
One question. How far back will they go back before they don’t include deeming rates for the sale of ones house?
Primary home is always exempt assets are 5 years
@@thestrategystacker thank you very much 🙏🏻
Th asset test is a TAX on any pensioners who invest independently. What it does it is estimate money you invest and then they reduce your pension , so low that you are going to use your savings,it is similar as the ROBODEBTS. The pensioners benefits with a full pension are the ones that, with the family make out that don't have any money because they transfer money to the family. The money became FAMILY TRUST FUND, this started for the well heel but over time other decided to do same
Ok.
Shouldn't the age pension be for people who have nothing, not for the rich, If you have 450 thousand or a million in assets or in your bank account you are rich.
I guess it depends which end of the scale your at. You could also argue there should be no age pension like most countries in the world.
@@thestrategystackerl think those countries don’t have a tax which pays for age pension unlike Australia.
What about public servants?