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Thread: Help Required

  1. #1

    Default Help Required

    My mother in law wants to move into a retirement village, can she give her house to her children to avoid the assett test thing?

  2. #2
    Happy's Avatar
    Join Date
    Jul 2005
    NSW, Australia

    Default Re: Help Required

    NSW lately had $30,000 worth of gifts in any 5 years and no more than $10,000 a year.

    Best to check with accountant

  3. #3

    Default Re: Help Required

    Hi Carmo
    Also have a talk with the accountant at the retirement home and find out exactly what the asset restrictions or extra charges are. Try to talk to someone with more grasp of finances than the typical front desk clerk, there are often lots of ways to skin a cat.
    I have heard of people spending thousands on asset changes to find they are only a few dollars a week better off.

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