Financial advice for a fellow ferner
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<blockquote class="ipsBlockquote" data-author="antipodean" data-cid="597463" data-time="1468712569">
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<p>If they don't gift the house to their kids..?</p>
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<p>In Oz I think there are rules about gifting - because the pension is gauged primarily against non-residential assets, a single person can have around $190K in e.g. cash, while a couple can have about $80K more than that.</p>
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<p>I looked into this when my Dad passed away to ensure my Mum wasn't going to get stung.</p>
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<p>If they start gifting money off to keep that amount down, I think its capped at $10K per year before they start paying tax or losing part of their pension.</p> -
<blockquote class="ipsBlockquote" data-author="reprobate" data-cid="597496" data-time="1468716907"><p>
how much is that subsidy worth?</p></blockquote>
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Varies by region, but around $900 per week. <a class="bbc_url" href="https://www.gazette.govt.nz/notice/id/2016-go3295">https://www.gazette.govt.nz/notice/id/2016-go3295</a> has the actual amounts. -
<blockquote class="ipsBlockquote" data-author="Godder" data-cid="597607" data-time="1468734647">
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<p>Varies by region, but around $900 per week. <a class="bbc_url" href="https://www.gazette.govt.nz/notice/id/2016-go3295">https://www.gazette.govt.nz/notice/id/2016-go3295</a> has the actual amounts.</p>
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<p>sweet thanks, sponge baths here i come.</p>