My wife and I will apply for a part age pension. We are beneficiaries, together with our two children, in a discretionary trust which owns vacant land purchased prior to capital gains introduction. Is part value included in assets disclosed to Centrelink? Can property be sold subsequently without disadvantaging pension entitlement?

ANSWER:

This is a complex issue and you should be canvassing your options with one of the FIS people at Centrelink – this is a free service.  In general terms, your share in the family trust will be counted for the asset test, but it depends on the structure of the trust.