9 ways to legally hide money from Centrelink Age Pension #HideMoneyFromCentrelink

How to legally HIDE YOUR ASSETS from Centrelink Age Pension if based on assessment, you know, that you just simply have too much money.
So here you are, getting ready for the exciting day, when you can finally say, “I can retire now and where is my Age Pension?”, and then to your horror, you find out you have too much savings.
My very first recommendation is: organise your money before your first visit to the Centrelink office or completing your application online. Prepare your assets in advance, so you know your entitlement before Centrelink even comes back to you with the reply. It is so much easier to deal with Centrelink when you know the application is final and you do not have to go through changes, updates, fixing mistakes, reshuffling of money etc.
So what can you do if you’ve calculated that you do have too much savings, but your goal is to get at least part Age Pension, if for no other reason, but at least to have access to the Health Care Card with all its benefits and discounts.
Here are 9 ways how you can legally hide your assets, to improve your Age Pension position:
00:00 Age Pension - Income and Assets Tests
03:50 Gifting
05:50 Home exemption
07:15 Home renovation
07:40 Debt against exempt asset
08:50 Your expenses
09:50 Funeral Bonds or funeral expenses
11:00 Superannuation
13:02 Annuities
14:05 Special Disability Trust

To download the book 12 PRINCIPLES OF INVESTING:

Contact details:
Katherine Isbrandt of About Retirement

Or connect with me:

#KatherineIsbrandt #AboutRetirement #AgePension #Retirement #Centrelink

[MrMgblue]

I agree with @Pixie in other countries the age pension is a given, not tested, it’s a recognition of the contribution we have made in building the country, it’s annoying that the people (politicians) who make these rules, are never means tested for their pensions!!!

[MichaelDrury-dw]

Knowing the system is the best way to determine how to maximise your entitlements. Its not cheating. Its using your head and brings you into line with the rich that know how to use the system to their best advantage. Leveling the playing field is not cheating or illegal. Its what we all need to do to understand how the system works. Spreading the knowledge helps the largest number of Australians enjoy their retirement.

[victorsvoice]

It would be nice if all Australians had the same pension scheme as our politicians. They get a pension for life. The same pension rules that apply to most Australians. Should apply to politicians. They should not have access their superannuation fund until aged 67.

[pixie]

I've always been of the opinion that if you've worked all your life it doesn't matter how much money you have everyone should be entitled to the age pension

[einfelder]

I'm happy to be unknown to Centrelink. When the income test for Seniors health card moves to $144, 000 as promised in the election, we might just scrape in under the income test at the current deeming rates. But having to expose oneself to the probing of a junior public servant against whose "decisions" one is powerless is somewhere I never want to go. A few minor discounts are not an incentive to us.

[annMarien]

What an amazing video with great explanation. I would be retiring soon in a few years and was just wondering how it is that salary earners split their pay and plan for a brighter future by in vesting. I earn quite a good sum annually and have nothing to show for it.

[joumanakaram]

Never hide, lie, cheat. You will live a lot happier and healthier. And you will have a peace of mind.

[kittykatt]

When I was at Uni applying for youth study allowance I had "too much" money in my account (I think it was $100 but this was 20+ years ago). The helper suggested I come back in in a couple days after I used that money to "purchase my uni books" and come back when the balance was under ***$, Back then we only needed to show current balance. She was lovely and I was very grateful.

[marthanewsome]

What sucks is my parents were able to retire at 55 no problem, but now I can't until I'm 67. I will probably drop dead by then, but guess that's what the government is hoping for.

[bobwilson]

If you have worked for 50 years and paid tax’s, your pension is not a benefit. We paid for it .

[agnescruz]

My opinion: I wish that our Age Pension Payment is based on how long did we actually worked and paid TAX.
Some people worked hard thier entire life and saved too. If Age Pension means it is ASSET-TESTED, we are penalising those people who are frugal in their lives.

Some people only worked for an amalgamated shorter period of time - and thus paid tax for shorter period of time.

Some people are prioritising holiday (locally, internationally), socialising -NOT THAT THERE IS WRONG WITH THAT - however obviously were not into savings.

So why are we policing and penalising those people who tried all their lives to do the right thing for themselves.

[michaelfisher]

This video should be called - "9 changes Centrelink are going to make to close these loopholes"

[michellewentworth]

If you are relying on the Age Pension for your retirement then you are in for a huge reality adjustment!

[kuldipsingh]

You're so very kind and giving in creating this video with information that most people would charge hundreds of dollars for! Thank you and I hope many blessings come your way!

[grantharding]

Buy physical gold and silver.
Silver can be sold in small amounts

[alfiewashere.]

I'm so glad I've been sensible with my money over the years to NEVER need the government in my retirement! I'd hate to have to deal with centrelink.

[nickmoore]

in NZ all get same pension then tax etc for extra incomes dealt with. Here in Oz . Pensioners treated as crooks to get any pension. Plus put 100 in a room all have different balance sheets. Divide and conquer. No one can compare it all.

[stormstation]

Katherine your videos are the best and most informative information relative to Australian citizens that I have found. You cover every possible angle and present the information in a very understandable way. I highly recommend viewers to take the time to watch and subscribe to your channel. Thank you for sharing your knowledge.

[TechnoCaveman]

Katherine, I have just discovered your channel. I am very impressed with your style. Very clear and straight forward advice. You don't pad out your videos, and you get straight to the information required. You also communicate in a very easy to understand way. Bravo! I have subscribed and have been binge watching your videos. As far as I am concerned your content is 10 out of 10! I am so surprised you only have 12.5K subscribers.

Interesting how you have an eye catching title for a video like "9 ways to legally hide money from Centerlink Age pension" and bang, 192k views! Is there a lesson to be learnt in that title? :-)

Keep up the good work!

[anthonynixon]

Family home improvement could be Solar and Storage generating power for self consumption reducing or eliminating power bills a household expense. Those on a partial asset tested aged pension may qualify for $1.50 for fortnight per $1, 000 expensed what you save on power bills and an increase in pension translates into a tax free benefit which in my view is a better use of savings.