|
Post by Banker on Mar 25, 2013 7:44:22 GMT 7
|
|
|
Post by Banjo on Mar 25, 2013 9:43:56 GMT 7
Mrs Clements took out a lifetime income stream before 2004 when a complying income stream was allowed to be 100 per cent exempt from the Centrelink assets test. She has been able to claim the age pension for a number of years as a result. Since that time, changes have been made to social security regulation that means that such income streams are no longer exempt. But those who, like my constituents, took them out before the rules were changed have been allowed to retain their exemption with conditions.Hmmm.... sounds like they were grandfathered under the old legislation and have had the mat pulled out from under them.
|
|