hiker
Junior Member
Posts: 4
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Post by hiker on May 11, 2023 8:10:46 GMT 7
I bought and sold a few shares 1-2 years ago and only done my tax for that year and I've made what I think was a good /ok capital gains profit on the sale of a few , now I'm concerned I will loose the DSP ? Where talking in the amount of $15 K profit .
Any thoughts ?
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Post by anthonydsp on May 11, 2023 10:19:29 GMT 7
No you won't loose your dsp at all everything will be fine
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Post by bear on May 11, 2023 10:19:32 GMT 7
G'day hiker, other than not reporting the sale and profit within the department's time guidelines concerning changes of circumstances etc. i.e.within 14 days; the amount should neither be here nor there in the scheme of things. I doubt you're likely to lose your DSP. Cheers 🐻 Refer to the guide below to see where you fit in:- www.servicesaustralia.gov.au/assets-test-for-pensions?context=22276
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hiker
Junior Member
Posts: 4
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Post by hiker on May 11, 2023 15:14:25 GMT 7
Thankyou
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Post by tasjo on May 11, 2023 18:09:45 GMT 7
Hi Hiker, The most likely change (if any) would be an adjustment to compensate due to undisclosed income (capital gain - different to earned income)... it may be worth speaking to the Financial Information Service Officers to confirm though. You can contact them via the Aged Care contact number.
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Post by bear on May 11, 2023 18:28:18 GMT 7
Here:- seniorsenquiryline.com.au/information/financial/Or here:- Call us on 132 300 and say 'Financial Information Service' when we ask why you're calling. A FIS Officer will answer your call. FIS can help you understand your options to fund your aged care. Financial Information Service brochure
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Post by tasjo on May 12, 2023 6:20:15 GMT 7
I'm not sure if it's still the case but you used to be able to make an appointment with the FIS Officer as well if you wanted to. They aren't financial advisers but are purely explaining how things can impact on your centrelink payments.
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hiker
Junior Member
Posts: 4
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Post by hiker on May 12, 2023 10:45:41 GMT 7
Thanks for the replies that's great info !
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Post by dswau on May 15, 2023 7:00:36 GMT 7
Hi Hiker, The most likely change (if any) would be an adjustment to compensate due to undisclosed income (capital gain - different to earned income)... it may be worth speaking to the Financial Information Service Officers to confirm though. You can contact them via the Aged Care contact number. I hold a number of shares bought with the remains of an inheritance. The shares are deemed just like money in the bank is. The dividends - if any - are not treated as income for centrelink purposes, but the balance of the shares, as it fluctuates, is relevant, and that's going to have to be worked out to arrive at the amount that should have been deemed in the past.
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