Please reload

Recent Posts

Retired and asset rich but cash poor? The pension loans scheme may help

July 2, 2018

To help pensioners who are rich in assets but poor in income, the government launched a version of a commercially available financial product, the reverse mortgage.

The government's answer for pensioners who find themselves in the above situation is its pension loans scheme (PLS), whereby a pensioner can apply for a non-taxable loan using some form of real property as security.  The PLS does not provide a lump sum, but a regular fortnightly payment.

 

At present the scheme is only open to those on a full pension, but the 2018 Federal Budget announced the government intends to open the PLS to all pension-age retirees (not just those who qualify for the Age Pension).

 

Read more in our July Newsletter

Share on Facebook
Share on Twitter
Please reload

Please reload

Archive

Welcome to JBG Accounting's monthly tax and superannuation newsletter - you should find the information interesting, informative and easy to read.

© Content in partnership with

Taxpayers Australia

© 2016 JBGAccounting                          Site by SambaDog Creative
  

Liability limited by a scheme approved under Professional Standards Legislation

02 4088 8008

0414 729 436

2/50 Regent Street, New Lambton, NSW 2305

  • LinkedIn - Black Circle
  • Facebook Social Icon