There are several government rule changes that have come into effect as of 1 January 2015. It’s important to make sure you’re aware how these may affect you. School Kids Bonus Eligible families were able to receive $422 for primary students and $842 for secondary students. The payment is now further being income tested, with family that earn combined incomes of over $100,000 no longer receiving the benefit. Also, be aware that the School Kids Bonus is being phased out completely and will finish up in 2016. Job seekers If a job seeker misses their appointment with their… Continue reading
The new Centrelink rules may affect your future government age pension entitlements. From 1 January 2015, deeming rules will assess the income from your account-based superannuation when determining your pension, benefit or allowance payment from Centrelink. Account-based superannuation income streams held by pensioners and allowed prior to 1 January 2015 will continue to be assessed under the existing rules unless they choose to change products or buy new products from 1 January 2015. The following example demonstrates how the deeming rules will be applied after 1 January 2015 compared to the current rules. Jack (65 years old) has a… Continue reading