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.
BUSINESS
New Technology Hub opens at Hawkesbury Central Library
Hawkesbury Library Service has unveiled its new Technology Hub at Central Library, Windsor, offering locals access to modern digital tools and creative facilities.
Funded by a $ 200,000 NSW Government Public Library Infrastructure Grant, the hub has been developed over the past four months and includes a refurbished Computer Room, a new Digitisation Room and a state-of-the-art Production Studio.
The upgraded Computer Room has been redesigned with new furniture and improved layout, providing greater privacy and more comfortable workspace for users. This area is open during library hours and does not require bookings.
The Digitisation Room, which opened earlier this year, gives members access to specialised equipment to preserve treasured memories. Visitors can scan photos, books, slides and film negatives, as well as convert older media such as DVDs and cassette tapes into digital formats.
Completing the project is the newly opened Production Studio, a soundproof space designed for content creation. It features a fourperson podcasting setup, including microphones, headphones and a soundboard, allowing users to produce professional-quality recordings. The studio also includes flexible seating and lighting, making it suitable for video recordings and interviews.
Bookings for both the Digitisation Room and Production Studio are currently free for Hawkesbury Library members. Reservations can be made by contacting the library directly, with a new online booking system expected to launch in July 2026.
A Child’ s Learning Centre
Care hours 6.30am to 6.30pm Open 49 weeks of the year Care from birth to 6 years Nutritious meals prepared daily Pre school transition programs Qualified and experienced staff Special needs catered for All daily needs supplied Community based non-profit centre Established in 1989
69 Andrew Thompson Drive, McGraths Hill Phone 4587 7141 admin @ mcgrathshillchildrenscentre. com. au
THE HAWKESBURY INDEPENDENT theindependentmagazine. com. au ISSUE 192 // MAY 2026 11