A factsheet about eligibility for the age pension, the home as exempt from the assets test, and different changes involving a person’s home that might affect their pension.
These changes include:
selling or gifting their home to someone else for less than market value
granny flat arranagements
borrowing money using your home as security
moving into residential aged care (and an explanation of aged care costs).
You can read this more on the Legal Aid NSW website or click below to download the PDF.