Louise plans to retire next month when she is 65 years of age. She provides you...
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Louise plans to retire next month when she is 65 years of age. She provides you with the following details: single homeowner motor vehicle, household contents and other lifestyle assets have a market value of $200,000 cash management trust $50,000 bank savings account $10,000 fixed deposits $100,000 share portfolio $50,000. Determine Louise's Age Pension entitlement when she becomes eligible to receive it. Is she assets tested or income tested? Louise plans to retire next month when she is 65 years of age. She provides you with the following details: single homeowner motor vehicle, household contents and other lifestyle assets have a market value of $200,000 cash management trust $50,000 bank savings account $10,000 fixed deposits $100,000 share portfolio $50,000. Determine Louise's Age Pension entitlement when she becomes eligible to receive it. Is she assets tested or income tested?
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Answer rating: 100% (QA)
To determine Louises Age Pension entitlement we need to consider both the income test and the assets test The test that results in the lowest pension ... View the full answer
Related Book For
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
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