Managing Your Funds When Selling and Buying

We continue to want to help you understand how the government allows you to invest funds when you’ve sold your home and are waiting to settle into your new Vital Home and the effect this has on any benefits you receive.

Recent government initiatives will provide a substantial reduction in deeming rates. They have also extended the asset test period for two years for pensioners who sell their homes to “Right-size” and unlock equity for a new, manageable home.

The Services Australia website (see link below) has details about your assets before you pay for a new home. If you want more information, we advise talking to a specialist financial advisor or contacting Services Australia directly to discuss your situation.

servicesaustralia.gov.au