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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 43263
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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In a defacto relationship yrs. yrs my ex has

Customer Question

Hi. in a defacto relationship for 30 yrs. For 2 yrs my ex has been full time carer for her sick mother and receives a carers centrelink pension. i'm on single rate pension for 3 yrs now. i stated on my centrelink form that iam separated. My ex and i are the best of friends and see each other regularly. She has often helped me financially with house and car bills. I still live in the house that we once shared. The problem is this:- THE GOVT. ASSETS TEST! My ex has about $300,000 in super and $50.000 in bank. Our house is not in joint names, only in hers. She will also inherit her mothers house when she dies. The question is how will Centrelink affect our pensions if we do the following:-- Transfer our house into my name, and also some of her bank savings. What problems can occur? What are our best options? Also we live in Victoria. Hope you can us. Regards..........John.
Submitted: 1 year ago.
Category: Australia Law
Customer: replied 1 year ago.
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Expert:  Leon replied 1 year ago.
Good Morning My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.If it is the principal place of residence transferring half share to you if you are still a defacto couple is not going to cost you anything and it will not affect the pension. If you are not defacto you will pay stamp duty on the 50% of the market value.When she inherits and you are a defacto couple then your pensions will be affected as the inheritance will be an asset. If you are not defacto then the inheritance will only affect her. The bank savings are not an issue they are not much I hope this makes sense and is of assistance. If there is nothing further thank you for using my services. If I have missed anything, or you have any further questions please let me know If there is anything else in the future please do not hesitate to ask. Please do not forget to leave positive feedback. RegardsLeon
Customer: replied 1 year ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Leon replied 1 year ago.
I have sent you additional services.
Customer: replied 1 year ago.
Hi Leon, seems to be some misunderstanding about the transferring of the house title. I did state that the title was to go in my name only, and NOT IN JOINT NAMES - your answer was based on putting the title in joint names. In Centrelink's view we are seen as being separated defacto. I've heard that such transactions must be done within 2yrs of a separation. Is the correct? Does this come under Centrelinks rule for 'GIFTING'? Thanks for your help. Regards.....John
Expert:  Leon replied 1 year ago.
Good Morning Because you are not a defacto there is stamp duty payableHad it been done when you were a defacto then you can be exempt of stamp duty. For centrelink you may have issues because you are disposing of more than $10,000.00 and with you not being defactos could cost you the pension.It has to be in the 2 years and it is done under the family law act as a split and you lose nothing. I hope this makes sense?
Expert:  Leon replied 1 year ago.
Good Afternoon
I'm just following up our discussion earlier this week and seeing whether there is anything else I can assist you with.
If I have missed anything, or you have any further questions please let me know.
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
I look forward to hearing from you.
Regards
Leon