changing status of asset
Hi - we are on a part pension and one of our assets is our motorhome.
It has a valuation of $30,000 but we have not used it for over five years.
We have a buyer at $30,000 so will sell but need to replace a collapsed verandah and get the lounge painted.
We need to get the vehicle road worthied so i wonderered how to inform Centrelink. Do I declare that the asset was disposed of less the road worthy cost and the maintainance costs so add the remainder into cash at bank?
Would appreciate your advice.
Peter
This is one of the problems with updating information on line, there is no option to add an explanation of a situation which makes people wary of updating with the expectation they will be automatically disadvantageously penalised. Perhaps Centrelink need to open a real person chat line, not the automatic robot one they have.