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william t bishop Posted on Sep 19, 2017
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We are selling our house & expect to get $300,000 does this effect our pension if we give $ 200,000 to our children

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Bill Boyd

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  • Computers & ... Master 53,816 Answers
  • Posted on Sep 19, 2017
Bill Boyd
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In this country , you have to pay gift tax or money over $10,000 per annum gifted to children
you are better off putting it in a pension superannuation scheme and making monthly withdrawals to pay debts for the children
centerlink have a financial adviser in office for financial advice or contact a financial adviser service preferably not the banks but an industry super fund adviser

3 Related Answers

A

Anonymous

  • Posted on Mar 11, 2013

SOURCE: sold house.when dose the asset effect my pension

Nothing to do with pension

Has to do with Federal Taxes on
capital gains, if you never use the money
to buy another home

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Anonymous

  • 937 Answers
  • Posted on Mar 11, 2013

SOURCE: sold house . when does the sale effect my pension

To retire on a full pension is to retire with your pension paying the full amount of the salaried allotment as agreed upon in your contract. ------------------------------------------------------------------------
Launch Creader CR-HD

5keepers541

Steve P

  • 3912 Answers
  • Posted on Jul 19, 2017

SOURCE: I need to make an appointment at Fremantle to discuss selling of house and separation of two people which will alter pensions

Hey Barbara Anne,
DO not ..PLEASE DO NOT ask for help of this kind on Fixya..BUT, I hope this helps you... sorry to hear...

Here are three sites that will help you get a "good" lawyer...
Avvo com Legal Easier

http://www.lawyers.com/find-a-lawyer

https://www.legalmatch.com/home/caseIntake1.do

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AFTER SELLING MY HOUSE. I WILL BE BUILDING A UNIT ON MY DAUGHTERS LAND. IS MY PENSION AFFECTED BY MONEY HELD FOR NEW DWELLING.

Hey Bill, I would consult a personal financial attorney..(Estate Planner type) >>> SOON... Your money is TTTOOOOOO important to trust "our" opinions..
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How new changes to part pension will affect me

That depends on the laws of your country, state, or province. Please contact the agency giving you the pension.
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Www humanservices gov au

If you have too much money to receive pension then you won't receive pension (while your money lasts), but later on you may qualify again. But don't just go squander your hard earned money so that you may benefit from the system. I strongly urge you to consult a tax lawyer even if it is a sure way to part ways with your dollars.
Jan 26, 2014 • Finance
0helpful
1answer

Sold house . when does the sale effect my pension

To retire on a full pension is to retire with your pension paying the full amount of the salaried allotment as agreed upon in your contract. ------------------------------------------------------------------------
Launch Creader CR-HD
0helpful
1answer

Sold house.when dose the asset effect my pension

Nothing to do with pension

Has to do with Federal Taxes on
capital gains, if you never use the money
to buy another home
4helpful
1answer

Expected returns: You have chosen biology as your college major because you would like to be a medical doctor. However, you find that the probability of being accepted to medical school is about 10...

So expected returns are just a little more advanced version of probability - without getting too in detail it uses weighted averages so you do not have to add the same number 17 times.
Let's first define our variables:
E(X) = Expected Return X1 = Variable 1 P1 = Probability 1 (in decimal format so 55% would be .55) X2 = Variable 2 P2 = Probability 2 (P2 is also equal to 1 - P1)
So the expected return formula is as follows:
E(X) = (X1)*(P1) + (X2)*(P2)
Plugging in our given numbers we get E(X) = Expected Return X1 = 300,000 P1 = 10% or .1 X2 = 40,000 P2 = 1 - P1 = 1 - .1 = .9
E(X) = (300,000)*(.1) + (40,000)*(.9) E(X) = 66,000
Now remember this does not include the opportunity cost of spending your four years in college studying biology instead of another degree.
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