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  1. #1
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    Default Cuts to aged pension re assets - agree/disagree?

    How do you feel about the cuts to the aged pension soon to be introduced?

    Do you think it's fair/unfair?

    Article below for those who want to know a bit more:

    http://www.theaustralian.com.au/nati...a1dcca92ddfecc

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    On some levels I agree and some I don't

    My folks live on a Pension. My dad is tpi army and war services pension and my mum gets a small amount but because they invested into a holiday home some 22 yrs ago (they split there time) and the family home. They own both outright. They are going to be cut by $500 a fortnight. They could sell our holiday home and pay $60k in capital gains tax and still be screwed over as they would have cash in the bank. Neither have much super as they put everything into the holiday house.

    Then there are those that set up family trusts where all incomes go into it and it doesn't matter how much money is in there they won't get slugged anything. They could have $3mill in assets but are untouchable where as my dad built a home for all us kids to enjoy and he loses out. Doesn't matter that he has major on going medical issues that he has from serving over seas in the 60's. The government are out to screw over the honest ones as much as possible

    My sil is on disability and has been for years. We have nothing to do with her. If she comes to my front door we don't answer it we wait til she goes away like we did yesterday. She chose her lifestyle of drugs and alcohol and that is what we as tax payers give her nearly $1000 a fortnight for. Her mum who she lives with pays for her housing and food she to is on a pension and has been her entire life, never worked paid day in a job ever. We dont have much at all to do with her either

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    I haven't clicked on the link provided, but in short, I disagree.

    I did google and found a link outlining proposed changes, that estimates under the propsed changes, 326,000 old age pensioners will be worse off, but 170,000 will be better off.

    I think it is grossly unfair that so many old aged pensioners will be worse off through no fault of their own. They clearly do not have the capacity to increase their income and should not be forced to sell assets that were previously exempt from an assets test.

    It makes me ill to think this government is fine with targeting the vulnerable in society while delivering tax cuts to companies.
    Last edited by SSecret Squirrel; 17-10-2016 at 09:47.

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    Tiny Dancer  (17-10-2016)

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    It's abhorrent. This current government doesn't stand for anything they only stand against things. If you don't generate an income you don't exist.

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    Quote Originally Posted by Sonja View Post
    It's abhorrent. This current government doesn't stand for anything they only stand against things. If you don't generate an income you don't exist.
    I think the aim of this and similar policies is to ensure certain segments of society don't exist.

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    I disagree and it really angers me. Many elderly people are asset rich and income poor. They may be a widow or widower, separated etc. and may have a house but still live very frugally on the pension. If that small income is taken away, what does a 75 year old widow do, sell her home and rent so she can support herself. Elderly people can't be easily uprooted from their home and all that comes with that. I totally disagree on taking away the pension from those who may be asset "rich".

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    I can't read the article.

    My widowed FIL owns his own house which he lives in with us . He gets a pension

    Will this affect him?

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    I disagree with the changes. I think it is grossly unfair. To tell aged pensioners to sell off their assests is not practical. Rent is unaffordable in many places even with a reasonable income. On the pension it is just completely unachievable
    I hate that those most vulnerable in our society are the ones being targeted for cuts. There are so many changes that are only going to make life more difficult for those who need support.

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    Quote Originally Posted by babybeeno1 View Post
    On some levels I agree and some I don't

    My folks live on a Pension. My dad is tpi army and war services pension and my mum gets a small amount but because they invested into a holiday home some 22 yrs ago (they split there time) and the family home. They own both outright. They are going to be cut by $500 a fortnight. They could sell our holiday home and pay $60k in capital gains tax and still be screwed over as they would have cash in the bank. Neither have much super as they put everything into the holiday house.

    Then there are those that set up family trusts where all incomes go into it and it doesn't matter how much money is in there they won't get slugged anything. They could have $3mill in assets but are untouchable where as my dad built a home for all us kids to enjoy and he loses out. Doesn't matter that he has major on going medical issues that he has from serving over seas in the 60's. The government are out to screw over the honest ones as much as possible

    My sil is on disability and has been for years. We have nothing to do with her. If she comes to my front door we don't answer it we wait til she goes away like we did yesterday. She chose her lifestyle of drugs and alcohol and that is what we as tax payers give her nearly $1000 a fortnight for. Her mum who she lives with pays for her housing and food she to is on a pension and has been her entire life, never worked paid day in a job ever. We dont have much at all to do with her either
    It's easy to set up a family trust - maybe get your parents to look into it so they don't lose anything?

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    I can't read the article either but surely it won't include the home they live in? That's usually always exempt ?


 

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