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Advice, Uncategorized

Are you considering a Granny Flat arrangement…. What could go wrong?

December 7, 2023

A lot as it turns out. To decrease disaster, it’s worth considering a formal agreement which lays out everyone’s expectations on the table.

Why are Granny Flat arrangements becoming so popular?

Unaffordable property prices and unreasonable rents are pushing many families to rethink their living situations. Granny flats can often be a popular solution as it may provide you the opportunity to continue to live independently in a home for longer whilst providing suitable and reasonably priced accommodation for the younger generation.

Also, capitalising on the families grouped financial resources and support creates another possible alternative to aged care.

"Your
Advice, Age Pension

Your assets: How to value and report them to Centrelink

November 13, 2023

Today we are sharing a refresher on the way the asset test is applied by Centrelink and how knowing the rules can help you to maximise your entitlements.

Why are both income and assets evaluated?

The Australian Age Pension is based on a means test that combines the income test and the assets test. Generally speaking, Centrelink will determine your income first. If this falls below the limit, it will then consider your assets. If either your income or assets are above the limit for a part-Age Pension, you will be ineligible for any Age Pension benefits.

If both your income and assets are below the limit, whichever one delivers the lower Age Pension payment will be applied.

"financial
Advice, Finance Planning, PAC Financial, Uncategorized

Why We Often Argue About Our Finances

October 9, 2023

Being in a relationship comes with its pros and cons.

When single it’s me, myself and I making the decisions. There would be very few couples who claim they never argue – some might say that would be boring anyway. The real disputes occur when the arguments are about finances and if they occur too often, it can become stressful and draining.
Today we look at the three main reasons couples argue about their finances. And how seemingly ‘irreconcilable’ differences might be handled.

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