Australian Politics Forum - Lotto Winner Loses Access To Pension

Carl D

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Re: Lotto Winner Loses Access To Pension
Reply #15 - Dec 30^th, 2023 at 3:38pm

Carl D wrote on Dec 30^th, 2023 at 1:31pm:

No wonder so many pensioners hide their cash 'under the mattress' these days.

aquascoot wrote on Dec 30^th, 2023 at 3:14pm:

taker mentality

learning how to be a better leaner Roll Eyes

I know a few pensioners who would be more than happy to pay you a visit in Nowheresville, Outback Queensland (population: always 10) and 'lean' on you if I showed them your post. Smiley

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aquascoot

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Re: Lotto Winner Loses Access To Pension
Reply #16 - Dec 30^th, 2023 at 3:57pm

Carl D wrote on Dec 30^th, 2023 at 3:38pm:

Carl D wrote on Dec 30^th, 2023 at 1:31pm:

No wonder so many pensioners hide their cash 'under the mattress' these days.

aquascoot wrote on Dec 30^th, 2023 at 3:14pm:

taker mentality

learning how to be a better leaner Roll Eyes

I know a few pensioners who would be more than happy to pay you a visit in Nowheresville, Outback Queensland (population: always 10) and 'lean' on you if I showed them your post. Smiley

i know a tax department who would call them criminals

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Baronvonrort

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Re: Lotto Winner Loses Access To Pension
Reply #17 - Dec 30^th, 2023 at 3:59pm

whiteknight wrote on Dec 30^th, 2023 at 9:30am:

The 70-year-old was told his monthly Lotto winnings were considered a form of income.

Mr Kemmler said he would have taken his winnings as a lump sum but he wasn’t given the option.

.

Lump sum lotto wins are not considered income.

You still have assets test for pension. If you want to gift money from assets to anyone there is a $10K per year limit for reducing assets with Centrelink. If you give away more than $10K a year they don't reduce this from your assets they only reduce your assets by 10K. This is to stop people giving money to family to qualify for pension.

Any monthly payments are considered income for pension income test this includes lotto games like set for life.

If you're on the pension don't play games that give winnings in monthly payments play those which give lump sums.

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Bobby. Gold Member Offline Australian Politics Posts: 120644 Melbourne Gender:	Re: Lotto Winner Loses Access To Pension Reply #18 - Dec 30^th, 2023 at 4:07pm Fortunately it's not something that most people have to worry about - only a handful of people win lotteries every year. It is a bit rough considering Govts already make $billions out of lotteries in taxes.
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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #19 - Dec 30^th, 2023 at 4:15pm

aquascoot wrote on Dec 30^th, 2023 at 3:57pm:

Carl D wrote on Dec 30^th, 2023 at 3:38pm:

Carl D wrote on Dec 30^th, 2023 at 1:31pm:

No wonder so many pensioners hide their cash 'under the mattress' these days.

aquascoot wrote on Dec 30^th, 2023 at 3:14pm:

taker mentality

learning how to be a better leaner Roll Eyes

I know a few pensioners who would be more than happy to pay you a visit in Nowheresville, Outback Queensland (population: always 10) and 'lean' on you if I showed them your post. Smiley

i know a tax department who would call them criminals

Really?

What crime have they committed?

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aquascoot

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Re: Lotto Winner Loses Access To Pension
Reply #20 - Dec 30^th, 2023 at 4:29pm

greggerypeccary wrote on Dec 30^th, 2023 at 4:15pm:

aquascoot wrote on Dec 30^th, 2023 at 3:57pm:

Carl D wrote on Dec 30^th, 2023 at 3:38pm:

Carl D wrote on Dec 30^th, 2023 at 1:31pm:

No wonder so many pensioners hide their cash 'under the mattress' these days.

aquascoot wrote on Dec 30^th, 2023 at 3:14pm:

taker mentality

learning how to be a better leaner Roll Eyes

I know a few pensioners who would be more than happy to pay you a visit in Nowheresville, Outback Queensland (population: always 10) and 'lean' on you if I showed them your post. Smiley

i know a tax department who would call them criminals

Really?

What crime have they committed?

lying on the asset test and claiming excessive centrelink benefits

very serious crime

amazing leaners cant see their own moral bankruptcy

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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #21 - Dec 30^th, 2023 at 4:51pm

aquascoot wrote on Dec 30^th, 2023 at 4:29pm:

greggerypeccary wrote on Dec 30^th, 2023 at 4:15pm:

aquascoot wrote on Dec 30^th, 2023 at 3:57pm:

Carl D wrote on Dec 30^th, 2023 at 3:38pm:

Carl D wrote on Dec 30^th, 2023 at 1:31pm:

No wonder so many pensioners hide their cash 'under the mattress' these days.

aquascoot wrote on Dec 30^th, 2023 at 3:14pm:

taker mentality

learning how to be a better leaner Roll Eyes

I know a few pensioners who would be more than happy to pay you a visit in Nowheresville, Outback Queensland (population: always 10) and 'lean' on you if I showed them your post. Smiley

i know a tax department who would call them criminals

Really?

What crime have they committed?

lying on the asset test ...

What lie, exactly?

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GOP = Guardians Of Paedophiles

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lee Gold Member Offline Australian Politics Posts: 21107 Gender:	Re: Lotto Winner Loses Access To Pension Reply #22 - Dec 30^th, 2023 at 4:55pm greggerypeccary wrote on Dec 30^th, 2023 at 4:51pm: What lie, exactly? Any money you have is an asset. It depends whether it is over the deeming level. It doesn't have to be in the bank.
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aquascoot Gold Member Offline Australian Politics Posts: 37920 Gender:	Re: Lotto Winner Loses Access To Pension Reply #23 - Dec 30^th, 2023 at 5:05pm gweggy exposed again when you think about trump all day, you cant keep up with other issues we call this "opportunity cost"
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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #24 - Dec 30^th, 2023 at 5:15pm

greggerypeccary wrote on Dec 30^th, 2023 at 4:51pm:

aquascoot wrote on Dec 30^th, 2023 at 4:29pm:

greggerypeccary wrote on Dec 30^th, 2023 at 4:15pm:

aquascoot wrote on Dec 30^th, 2023 at 3:57pm:

Carl D wrote on Dec 30^th, 2023 at 3:38pm:

Carl D wrote on Dec 30^th, 2023 at 1:31pm:

No wonder so many pensioners hide their cash 'under the mattress' these days.

aquascoot wrote on Dec 30^th, 2023 at 3:14pm:

taker mentality

learning how to be a better leaner Roll Eyes

I know a few pensioners who would be more than happy to pay you a visit in Nowheresville, Outback Queensland (population: always 10) and 'lean' on you if I showed them your post. Smiley

i know a tax department who would call them criminals

Really?

What crime have they committed?

lying on the asset test ...

What lie, exactly?

Was the question too hard for you?

What lie do they tell which is a criminal offence?

Here's the form: https://www.servicesaustralia.gov.au/sites/default/files/2023-07/sa369-2307en-f....

So, where does it say "Do you ave any cash hidden under your mattress?"

I'm curious.

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GOP = Guardians Of Paedophiles

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greggerypeccary Gold Member Offline Australian Politics Posts: 153824 Gender:	Re: Lotto Winner Loses Access To Pension Reply #25 - Dec 30^th, 2023 at 5:16pm aquascoot wrote on Dec 30^th, 2023 at 5:05pm: gweggy exposed again Actually, you've been exposed as a liar (once again). Where on the form does it ask to declare all cash? https://www.servicesaustralia.gov.au/sites/default/files/2023-07/sa369-2307en-f.... I'm curious.
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lee

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Re: Lotto Winner Loses Access To Pension
Reply #26 - Dec 30^th, 2023 at 5:19pm

greggerypeccary wrote on Dec 30^th, 2023 at 5:16pm:

Where on the form does it ask to declare all cash?

"Financial investments

Tell us about any financial investments you and your partner own, or partially own, in and outside Australia. Financial investments include any of these:

bank, building society and credit union accounts
cash on hand
deeming accounts
term deposit accounts
uncleared cheques
managed investments, including margin loans
shares and securities."

https://www.servicesaustralia.gov.au/asset-types?context=22526

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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #27 - Dec 30^th, 2023 at 5:19pm

lee wrote on Dec 30^th, 2023 at 4:55pm:

greggerypeccary wrote on Dec 30^th, 2023 at 4:51pm:

What lie, exactly?

Any money you have is an asset. It depends whether it is over the deeming level. It doesn't have to be in the bank.

Really?

Which section on the form asks the applicant to disclose their cash assets not in the bank?

https://www.servicesaustralia.gov.au/sites/default/files/2023-07/sa369-2307en-f....

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lee Gold Member Offline Australian Politics Posts: 21107 Gender:	Re: Lotto Winner Loses Access To Pension Reply #28 - Dec 30^th, 2023 at 5:20pm Answered above Dufus.
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greggerypeccary Gold Member Offline Australian Politics Posts: 153824 Gender:	Re: Lotto Winner Loses Access To Pension Reply #29 - Dec 30^th, 2023 at 5:21pm lee wrote on Dec 30^th, 2023 at 5:20pm: Answered above Dufus. Which section on the official form that applicants must sign asks for disclosure of cash? https://www.servicesaustralia.gov.au/sites/default/files/2023-07/sa369-2307en-f.... Just give me the number.
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