Thursday, September 23, 2010

That trip around Oz

The latest customer at owns 2 units in the same block, lives in one and rents the other out, but is wanting to also rent his residence for 12 months while touring around Oz.

His question is will it decrease his pension?

Well after inputting his details his assets are the determining factor and he gets about 50% of the maximum aged pension, so the exercise was to see how much more income he can make to "equalise" the asset/income tests.

The result was that he could receive 90% of the amount [after deductions] he presently gets for the rented unit, so he has decided to rent it at that figure, hitch up the Sterling and drive into the sunset with an extra $150 per week in his pocket.

Another happy customer!

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