Timothy Sumer

What is Age Pension Income Test? Income Test is not just as simple as checking your pay slip, or the level of income you earn from your investments, because every type of earned income is included in the test and each might be calculated differently. Income Test includes: • your employment income if you continue working full-time or part-time, • any money your earn from your business • Income received from overseas pension funds • Income earned from your rental property or your investment properties, • Income received from your retirement income streams • plus all assessable assets, so all your financial assets such as your bank accounts, managed funds, shares, superannuation, business assets. and each might be under different income assessment rule. Sometimes you might feel like you would have to be Einstein to understatement and follow those rules. How much income can I earn before it affects my Age Pension Payments? How does Age Pension reduce under Income Test? What i

What assets are included in Age Pension Assets Test. Understanding how the Assets Test work and what assets are included, how to maximise the Age Pension benefit can be a difference between a comfortable retirement with good level of income OR struggling financially. In this video I will explain all little details about Assets Test and why it is so important if you want to improve you Age Pension payments. I will go over all types of assets that are included in Assets Test and answer questions that I often get about treatment of different assets. I will cover the following: 00:36 Assets Test problem 01:48 Basics of Assets Test 02:57 Origin of Assets Test problem 05:38 Current Assets Test limits 06:48 What assets are included in Assets Test? 06:54 Personal Effects 07:41 Financial Assets 07:44 Superannuation 08:31 Income Streams 08:53 Annuities 09:31 Other assets 10:15 Real Estate 12:53 Retirement Village 13:21 Gifting 13:54 Assets You Control 14:54 Business Assets Feel free

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 benefi

You cannot rely on the Australian Age Pension to fund your retirement. It doesn't provide you with enough money for even a modest retirement. In order to retire comfortably in Australia, you will need to supplement your age pension with income from property, shares, or superannuation. However, having too much income and assets can reduce your age pension. So it's imperative that you learn how the Age Pension income and asset tests work and plan your retirement accordingly. 0:00 Can you live off the Australian Age Pension? 2:08 How much is the Age Pension? 3:25 Understanding the Income Test 4:14 Understanding the Deeming Rules 6:33 Understanding the Work Bonus 7:53 Understanding the Asset Test 9:33 The biggest loophole in the Australian Age Pension system 10:52 Strategies to maximize the income from your Age Pension Chinese subtitles are available for this video I am an Executive Level Leader in the Australian Public Service with over 10 years of experience in ta