Is your client's principal home really exempt from social security assessment? | Accurium

Main home

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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. 

Disclaimer

This information is provided by Accurium Pty Limited ABN 13 009 492 219 (Accurium). It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Accurium is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.