FINANCE
How does downsizing your home affect your Age Pension eligibility?
with Age Pension Help
When Centrelink are assessing your assets for the Age Pension, your owned home which you live in is exempt. If you are considering downsizing, you might be concerned about how any proceeds from the sale will affect your eligibility.
What are the current rules? If there is a period where you have sold your home( after 01 / 01 / 2023), and you are living somewhere where you are not the owner, and you have not yet purchased a new property, any amount you intend to use for the purchase, construction, repairs or renovation of a new property are still exempt from the assets test.
This exemption can be applied for 24 months from the date of settlement, until the new property is purchased, or your intention to purchase changes. It is important to note that while the funds are exempt from the assets test, they still will be deemed at the lower deeming rate, which means your income test could be affected.
For the remainder of sale proceeds, not intended for or used for a new property, these will be treated as normal in the assets and income tests.
As you can tell, this is a complex transaction, which requires an understanding of all the risks and benefits.
Check out the information on moneysmart. gov. au, and if you are contemplating downsizing and considering your Age Pension, give me a call, 1300 222 484.
LOCAL LIFE
Early works to begin on Bandon Road upgrade
A critical infrastructure upgrade in Sydney’ s North West will begin next week, with early works set to commence from 28 April at the Bandon Road and Riverstone Parade intersection near Vineyard train station.
The investment will deliver important safety improvements for the rapidly growing community, helping address an infrastructure backlog that has struggled to keep pace with population growth in the region.
The Albanese and Minns Labor Governments are jointly funding $ 150 million in planning and early works for the Bandon Road Upgrade, part of the North West Growth Centre Road Network Strategy.
The early works package includes a new car park with more than 70 spaces, upgraded bus stops, improved pedestrian access, better lighting, and key safety upgrades at the intersection to support future road duplication.
These improvements will make it safer and easier for locals to access Vineyard Station and travel through the area.
The works are a first step towards the broader Bandon Road Upgrade, which aims to ease congestion and support the delivery of new homes across the North West.
Currently in planning, the full upgrade envisions a new four-lane road, an underpass beneath the railway line, shared pedestrian and cycle paths, improved flood evacuation routes, and stronger connections for local communities.
Federal Infrastructure, Transport, Regional Development and Local Government Minister Catherine King said the project reflects a commitment to future-proofing the region.
“ In partnership with the Minns Government, we are investing in the future infrastructure needs of communities like Sydney’ s growing North West,” she said.
“ We want to ensure people can get around efficiently and get home safely, whether they’ re walking, driving or using public transport.”
NSW Minister for Roads Jenny Aitchison said the project addresses long-standing infrastructure needs in one of the state’ s fastest-growing areas.
“ The Minns Labor Government is delivering the infrastructure Western Sydney needs so families can spend less time in traffic and more time at home,” she said.
“ These early works are an important
Aerial view of Bandon Road intersection.
first step towards duplicating Bandon Road, which will become a critical arterial connection in the North West.”
Federal Member for Greenway Michelle Rowland said the works demonstrate a commitment to improving local transport.
“ These upgrades will help reduce congestion and ensure residents spend less time on the road and more time with their families,” she said.
Federal Member for Macquarie Susan Templeman said the start of works marks an important milestone for local commuters.
“ For Hawkesbury residents who rely on Vineyard Station or travel this route, this is a significant step forward in delivering the infrastructure our growing region needs,” she said.
Federal Member for Chifley Ed Husic said the upgrade forms part of a broader investment in Western Sydney’ s road network.
“ These works are critical for improving safety and access to Vineyard Station and are part of our more than $ 1 billion investment in roads from Marsden Park to Colebee and Riverstone,” he said.
State Member for Riverstone Warren Kirby said the upgrades will make everyday travel easier for locals.
“ As Riverstone and Vineyard continue to grow, Bandon Road is becoming a key local link. These early works will improve access to the station and movement around the area,” he said.
“ This is the first tangible step towards duplicating Bandon Road and removing the Vineyard level crossing, ensuring infrastructure keeps pace with growth and delivers for the community.”
BLACKTOWN CITY INDEPENDENT theindependentmagazine. com. au ISSUE 62 // MAY 2026 11