Productivity Commission report finds ending exemption of principal place of residence for age pension would catch nearly 360000 off the pensionIncluding the family domestic in the pension asset test or allowing retirees to use its equity would help make Australia’s taxation system more just,and unlock the $926bn worth of domestic equity held by older Australians, a unique report has found.
Ending the exemption of the principal place of residence in the eligibility for the age pension would see nearly 360000 lose the entitlement, and netting the government approximately $6bn a year,the landmark productivity commission report found.
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Source: theguardian.com