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ACOSS and Deeming Rules

  1. Radicool

    2,126 Posts.
    4
    I'm not sure if my assumption is correct, if it is, I feel sorry for any conservative investor - safe asset class- who has financial asset of about $1 mil

    Am I correct that a retiree couple with this amount would only earn roughly an amount eqivilent too or on par to a couple on full govt. pension. When the new deeming rule comes into force they could be worse off then the pensioner couple. Their income will further be lowered if the reserve bank reduces the interest rate.

    So can I call pensioner couples on govt pension as a millionaire household!

    If this is true the govt should defer the introduction of the new deeming rules

    The only area that ACOSS might be justified is if the govt uses the value on the home, to qualify
    for CSHC etc

    Radicool Views

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