2nd home
My husband and I are both on the full age pension. We are wondering how it would affect our pension if we were to sell our family home and purchase two units. One would be used as our holiday home in the country. Both homes would be the same value as our current house.
2 comments
2 comments
It would depend on how much they are both worth. The one you will live in is exempt, the other is added to any other assets you may have. If the total does not exceed $401500, then your Pension will be unchanged. If not it will decrease at the rate of $1.50 each for every $1000 you exceed it, until you go over $880500, then no Pension.