Eureka Correspondence

The assets test, balanced portfolios and Forge shares.

I read with interest Scott Francis’s article on the Commission of Audit proposal relating to means testing of the family home. I noted that in examples used by Scott, he focused on the income test effect. I would have thought that the assets test would have a greater impact and in many cases would see people lose access to the age pension entirely, as they exceed the asset test threshold due to the additional assessment of the family home. Further, I would expect that any change in this area would only relate to assets – not income, as the person receives no income from the family home. Just as motor vehicles are asset tested, but not income tested!
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