Episode Details

Inheriting a large sum while on the aged pension can affect your payments. For every $1,500 in new assets, your pension may decrease by $1.50 per fortnight. Homeowners can have up to $1.85 million in assets, excluding their home, and still receive some pension. If you inherit before 75, you can put it into super. After 75, you can invest in shares, managed funds, or term deposits. Capital gains tax on the main residence in aged care is tax-free indefinitely if not rented out. Super contributions cant go directly into a pension account, so consider keeping a small amount in a regular super account or opening a new one. Always seek personalized advice for your specific situation.

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