Australian Politics Forum - Lotto Winner Loses Access To Pension

Rosie

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Re: Lotto Winner Loses Access To Pension
Reply #300 - Jan 1^st, 2024 at 10:48am

Gnads wrote on Jan 1^st, 2024 at 10:04am:

Rosie wrote on Jan 1^st, 2024 at 9:18am:

I haven't read all the replies to this post but I do have a question for all of you in the know.

I was told by a centerlink worker years ago that centerlink does not have access to your bank account, they only know what you tell them.

When did it happen that centerlink can now access your bank account?

They don't have "access" in the sense you're implying Rosie.

But up to twice a year they may ask you to supply information about you bank & super balances.

I provided bank & super statements when applying.

They know where you bank & where your super is held .... your superannuation fund reports to them in February & August every year regarding your account status.

They are linked to Medicare, Services Australia & the ATO.

Thanks Gnads. I don't have super as I had my own little business and retired many years ago. I keep my details updated online and haven't had any questions from them for a very long time. Hope it stays that way.

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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #301 - Jan 1^st, 2024 at 11:36am

Rosie wrote on Jan 1^st, 2024 at 9:18am:

I haven't read all the replies to this post but I do have a question for all of you in the know.

I was told by a centerlink worker years ago that centerlink does not have access to your bank account, they only know what you tell them.

When did it happen that centerlink can now access your bank account?

Centrelink does not have access to your bank account, apart from being able to deposit payments into it.

They can't check balances or transactions.

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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #302 - Jan 1^st, 2024 at 11:40am

Gnads wrote on Jan 1^st, 2024 at 9:20am:

greggerypeccary wrote on Dec 31^st, 2023 at 5:06pm:

Bobby. wrote on Dec 31^st, 2023 at 5:05pm:

Quote:

Is English your first language?

me no speaky English but
know how to fill out Centrelink form. Wink

Could not be clearer:

This does not include money in your bank accounts or cash held to meet day-to-day expenses and to pay outstanding bills.

I dunno Peccar ....

When I retired at 63yrs old I had a mortgage - which was in a flexi-mortgage account ..... which could be redrawn on when ever you needed it.

I paid the mortgage amount out in full & that left me with the full total of funds available .....

I kept that account open for a monthly fee just in case .... up until I became eligible for the pension..

even though that money was not mine & I was paying a fee to hold the account open.....

because I hadn't closed it down before I was assessed Centrelink deemed it as a cash asset and then reduced my pension for 1 week until I had rectified that status by closing the mortgage account.

It cost me $360 to close that account & get the Bank removed from the title & for me to be issued with a document record of title transfer.

You're not reading the sentence properly/in context.

Money in bank accounts is most certainly deemed to be an asset, however, those funds are declared in a different question on the form.

My words added in red, as a way of clarification:

"This does not include money in your bank accounts
[because that is declared elsewhere on the form]
or cash held to meet day-to-day expenses and to pay outstanding bills."

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lee

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Re: Lotto Winner Loses Access To Pension
Reply #303 - Jan 1^st, 2024 at 12:20pm

greggerypeccary wrote on Jan 1^st, 2024 at 11:40am:

This does not include money in your bank accounts [because that is declared elsewhere on the form]
or cash held to meet day-to-day expenses and to pay outstanding bills

Now tell us about your claim re "day-to-day expenses" You know as distinct from week to week, month to month, To 3-years and a day etc. Roll Eyes

BTW - Acts Interpretation Act doesn't define day to day, so it has its normal English usage.

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MeisterEckhart

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Re: Lotto Winner Loses Access To Pension
Reply #304 - Jan 1^st, 2024 at 12:48pm

lee wrote on Jan 1^st, 2024 at 12:20pm:

greggerypeccary wrote on Jan 1^st, 2024 at 11:40am:

This does not include money in your bank accounts [because that is declared elsewhere on the form]
or cash held to meet day-to-day expenses and to pay outstanding bills

Now tell us about your claim re "day-to-day expenses" You know as distinct from week to week, month to month, To 3-years and a day etc. Roll Eyes

BTW - Acts Interpretation Act doesn't define day to day, so it has its normal English usage.

An act's regulations usually delegate the interpretation of terms such as 'day to day' to the respective administrative agency.

So it is irrelevant what individuals may choose to interpret the term to mean, (usually to suit their own, personal circumstances), it only matters, in the first instance, what the agency has determined it to mean.

On 'day-to-day' cash on hand, in the vernacular few of us would consider keeping $50K in cash as apropos to paying day-to-day expenses.

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aquascoot

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Re: Lotto Winner Loses Access To Pension
Reply #305 - Jan 1^st, 2024 at 1:00pm

greggerypeccary wrote on Jan 1^st, 2024 at 11:40am:

Gnads wrote on Jan 1^st, 2024 at 9:20am:

greggerypeccary wrote on Dec 31^st, 2023 at 5:06pm:

Bobby. wrote on Dec 31^st, 2023 at 5:05pm:

Quote:

Is English your first language?

me no speaky English but
know how to fill out Centrelink form. Wink

Could not be clearer:

This does not include money in your bank accounts or cash held to meet day-to-day expenses and to pay outstanding bills.

I dunno Peccar ....

When I retired at 63yrs old I had a mortgage - which was in a flexi-mortgage account ..... which could be redrawn on when ever you needed it.

I paid the mortgage amount out in full & that left me with the full total of funds available .....

I kept that account open for a monthly fee just in case .... up until I became eligible for the pension..

even though that money was not mine & I was paying a fee to hold the account open.....

because I hadn't closed it down before I was assessed Centrelink deemed it as a cash asset and then reduced my pension for 1 week until I had rectified that status by closing the mortgage account.

It cost me $360 to close that account & get the Bank removed from the title & for me to be issued with a document record of title transfer.

You're not reading the sentence properly/in context.

Money in bank accounts is most certainly deemed to be an asset, however, those funds are declared in a different question on the form.

My words added in red, as a way of clarification:

"This does not include money in your bank accounts
[because that is declared elsewhere on the form]
or cash held to meet day-to-day expenses and to pay outstanding bills."

one of the most important business concepts is

when you are digging yourself into a hole, you need to know when to stop digging.

you should have stopped digging 20 posts ago

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aquascoot

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Re: Lotto Winner Loses Access To Pension
Reply #306 - Jan 1^st, 2024 at 1:03pm

MeisterEckhart wrote on Jan 1^st, 2024 at 12:48pm:

lee wrote on Jan 1^st, 2024 at 12:20pm:

greggerypeccary wrote on Jan 1^st, 2024 at 11:40am:

This does not include money in your bank accounts [because that is declared elsewhere on the form]
or cash held to meet day-to-day expenses and to pay outstanding bills

Now tell us about your claim re "day-to-day expenses" You know as distinct from week to week, month to month, To 3-years and a day etc. Roll Eyes

BTW - Acts Interpretation Act doesn't define day to day, so it has its normal English usage.

An act's regulations usually delegate the interpretation of terms such as 'day to day' to the respective administrative agency.

So it is irrelevant what individuals may choose to interpret the term to mean, (usually to suit their own, personal circumstances), it only matters, in the first instance, what the agency has determined it to mean.

On 'day-to-day' cash on hand, in the vernacular few of us would consider keeping $50K in cash as apropos to paying day-to-day expenses.

services australia says you must report more then 2000 dollars held.

gweggy is a bush lawyer and not a very good one

the idea that you can scam the asset test by hoarding cash and the government would be ok with that is laughable

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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #307 - Jan 1^st, 2024 at 1:21pm

lee wrote on Jan 1^st, 2024 at 12:20pm:

greggerypeccary wrote on Jan 1^st, 2024 at 11:40am:

This does not include money in your bank accounts [because that is declared elsewhere on the form]
or cash held to meet day-to-day expenses and to pay outstanding bills

Now tell us about your claim re "day-to-day expenses" You know as distinct from week to week, month to month, To 3-years and a day etc. Roll Eyes

BTW - Acts Interpretation Act doesn't define day to day, so it has its normal English usage.

Day to day can be for any period of time.

A week, month, year, decade.

I suggest you buy a dictionary and maybe take some English lessons.

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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #308 - Jan 1^st, 2024 at 1:22pm

MeisterEckhart wrote on Jan 1^st, 2024 at 12:48pm:

lee wrote on Jan 1^st, 2024 at 12:20pm:

greggerypeccary wrote on Jan 1^st, 2024 at 11:40am:

This does not include money in your bank accounts [because that is declared elsewhere on the form]
or cash held to meet day-to-day expenses and to pay outstanding bills

Now tell us about your claim re "day-to-day expenses" You know as distinct from week to week, month to month, To 3-years and a day etc. Roll Eyes

BTW - Acts Interpretation Act doesn't define day to day, so it has its normal English usage.

An act's regulations usually delegate the interpretation of terms such as 'day to day' to the respective administrative agency.

So it is irrelevant what individuals may choose to interpret the term to mean, (usually to suit their own, personal circumstances), it only matters, in the first instance, what the agency has determined it to mean.

On 'day-to-day' cash on hand, in the vernacular few of us would consider keeping $50K in cash as apropos to paying day-to-day expenses.

Still looking fro that case law?

Let us all know when you find it Wink

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lee Gold Member Offline Australian Politics Posts: 21099 Gender:	Re: Lotto Winner Loses Access To Pension Reply #309 - Jan 1^st, 2024 at 1:40pm greggerypeccary wrote on Jan 1^st, 2024 at 1:21pm: Day to day can be for any period of time. greggerypeccary wrote on Jan 1^st, 2024 at 1:21pm: I suggest you buy a dictionary and maybe take some English lessons. Now all YOU have to do is PROVE your assertion.
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Bobby. Gold Member Offline Australian Politics Posts: 120595 Melbourne Gender:	Re: Lotto Winner Loses Access To Pension Reply #310 - Jan 1^st, 2024 at 1:43pm Greggy gives bad bush lawyer advice - don't listen to him.
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MeisterEckhart

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Re: Lotto Winner Loses Access To Pension
Reply #311 - Jan 1^st, 2024 at 1:44pm

greggerypeccary wrote on Jan 1^st, 2024 at 1:22pm:

MeisterEckhart wrote on Jan 1^st, 2024 at 12:48pm:

lee wrote on Jan 1^st, 2024 at 12:20pm:

greggerypeccary wrote on Jan 1^st, 2024 at 11:40am:

This does not include money in your bank accounts [because that is declared elsewhere on the form]
or cash held to meet day-to-day expenses and to pay outstanding bills

Now tell us about your claim re "day-to-day expenses" You know as distinct from week to week, month to month, To 3-years and a day etc. Roll Eyes

BTW - Acts Interpretation Act doesn't define day to day, so it has its normal English usage.

An act's regulations usually delegate the interpretation of terms such as 'day to day' to the respective administrative agency.

So it is irrelevant what individuals may choose to interpret the term to mean, (usually to suit their own, personal circumstances), it only matters, in the first instance, what the agency has determined it to mean.

On 'day-to-day' cash on hand, in the vernacular few of us would consider keeping $50K in cash as apropos to paying day-to-day expenses.

Still looking fro that case law?

Let us all know when you find it Wink

Let us know when you receive Services Australia's interpretation of 'day-to-day' concerning cash on hand - it's on the recipient to clarify with the agency to ensure compliance with the regulations and the agency's interpretation of them.

But you might lose the stash you're pilfering from.

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greggerypeccary Gold Member Offline Australian Politics Posts: 153779 Gender:	Re: Lotto Winner Loses Access To Pension Reply #312 - Jan 1^st, 2024 at 1:45pm Bobby. wrote on Jan 1^st, 2024 at 1:43pm: Greggy gives bad bush lawyer advice - don't listen to him. Lee thinks 'day to day' means two days He started my year off with a good laugh.
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lee Gold Member Offline Australian Politics Posts: 21099 Gender:	Re: Lotto Winner Loses Access To Pension Reply #313 - Jan 1^st, 2024 at 1:46pm "Day-to-day things or activities exist or happen every day as part of ordinary life." https://www.collinsdictionary.com/dictionary/english/day-to-day So does he spend $200k each and every day?
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greggerypeccary Gold Member Offline Australian Politics Posts: 153779 Gender:	Re: Lotto Winner Loses Access To Pension Reply #314 - Jan 1^st, 2024 at 1:54pm lee wrote on Jan 1^st, 2024 at 1:46pm: "Day-to-day things or activities exist or happen every day as part of ordinary life." https://www.collinsdictionary.com/dictionary/english/day-to-day So does he spend $200k each and every day? Lol Lee only has day to day expenses for one day in his life
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