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Many clients may not be aware that simple changes like moving to another home or renting out part of the home to a paying guest can impact their Age Pension entitlement. Therefore, advice plays an important role to help clients understand the rules and minimise any impact on current or future Centrelink entitlements.
This article will discuss:
- how Centrelink defines and assesses the principal home; and
- what are the exceptions to how Centrelink determines if an individual is a homeowner.