Treasurer Scott Morrison’s budget has met with a mixed reaction.
More than 92,000 pensioners will get their concessions back after losing their pensions or part-pensions from 1 January in the Age Pension assets test.
Up to 3.5 million people on the age and disability support pensions and parenting payment will also receive one-off cash payments to help cover their winter energy bills — $75 for singles and $125 for couples.
And a person aged 65 or over will be able to make a non-concessional contribution to superannuation of up to $300,000 from the proceeds of the sale of their home from 1 July 2018.
But the last measure falls short of the incentive advocated by National Seniors. It would have allowed older people to ‘rightsize’ without losing their pensions by quarantining $250,000 of their home sale proceeds from the Age Pension assets test.
Just how you view the budget depends on who you are…so was it good for you?