Its incredible imo that the Australian Chamber of Commerce wants to terrify age pensioners with their proposals to restrict access to the age pension if they have a debt free home valued over $450,000. They want them to lose access to a full or part pension for the first five years after age 65. The implications of this for age pensioners if adopted would be horrendous. Not many homes will be valued under $450,000 so most will be impacted.
Can you imagine the body that represents the wealthy owners and captains of industry who certainly will have no need of the very small age pension want to gouge from our Senior Citizens. At the same time they are calling for big tax cuts for the corporations and businesses they represent. Seniors need to be very wary and come elections must get clear commitments these measures wont be introduced and if they refuse, they don't get their vote.
EXTRACT ABC NEWS
"Asset test for aged pension should include family home, Australian Chamber of Commerce says
AM By senior business correspondent Peter Ryan
Updated about 3 hours ago
The family home or a principal place of residence should be included in the assets test for the aged pension, according to the Australian Chamber of Commerce and Industry (ACCI).
The business lobby group said where a primary residence was valued above a debt-free $450,000, workers retiring at the age of 65 should not be eligible for a full or part pension for the first five years.”
http://www.abc.net.au/news/2017-02-...luded-in-pension-asset-test-acci-says/8237206
