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.