This proposal would modify the assets test rules for rural pensioner by:

• reducing the long term continuous attachment to the land requirement from 20 years to 10 years
• allowing the continuous attachment to land to include ownership in addition to inhabiting the land.

The proposal would have effect from 1 January 2019.

This proposal has four components.

The proposal would:

• Extend the assets test exemption for principal home sale proceeds from 12 months to 24 months for income support recipients.
• Change the income test, to apply only the lower deeming rate (0.25 per cent) to principal home sale proceeds when calculating deemed income for 24 months after the sale of the principal home.

The Department of Social Services and the Department of Veterans’ Affairs (DVA) are to absorb all departmental expenses.

The proposal would be ongoing and have effect from 1 January 2023.

The proposal would:

• Extend the assets test exemption for principal home sale proceeds from 12 months to 24 months for income support recipients.
• Change the income test, to apply only the lower deeming rate (0.25 per cent) to principal home sale proceeds when calculating deemed income for 24 months after the sale of the principal home.

The Department of Social Services and the Department of Veterans’ Affairs (DVA) are to absorb all departmental expenses.

The proposal would be ongoing and have effect from 1 January 2023.

This proposal would reduce the Age Pension age eligibility to 65 as per the progression below.

This proposal would reduce the Age Pension age eligibility to 65 as per the progression below.

From 1 January 2023, the proposal is to:

• Extend the assets test exemption for principal home saleproceeds from 12 months to 24 months for income supportrecipients.
• Change the income test, to apply only the lower deemingrate (0.25 per cent) to principal home sale proceeds whencalculating deemed income for 24 months after the sale ofthe principal home.

From 1 January 2023, the proposal is to:

• Extend the assets test exemption for principal home saleproceeds from 12 months to 24 months for income supportrecipients.
• Change the income test, to apply only the lower deemingrate (0.25 per cent) to principal home sale proceeds whencalculating deemed income for 24 months after the sale ofthe principal home.