Ask the Expert- Navigating the tricky world of Cen

2022-04-05
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Ask the Expert: Navigating the tricky world of Centrelink deeming rates - Today News Post News Today || Headlines Today

Question: I’m a retired pensionerThese were people that weren. If I sell our housecinemas and libraries) can operate at one-third of their fire code occupancy., can I loan money to my children and not have it assessed as deeming?

Answer: All loans, whether they are to family or not29-May, are treated by Centrelink as a ‘financial asset’, which means they are counted under the asset test and ‘deemed’ to earn a specific rate of return under the income test.

Current deeming rates for a single pensioner are 0.25 per cent on the first $53,000 and 2.25 per cent on amounts over this.

For couples, the rates are 0.25 per cent for the first $88,000 and 2.25 per cent on amounts over that.

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