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As you know, when you applied for the pension you had to declare all your income and assets. Any changes should be communicated to Centrelink, such as buying an upgraded (and therefore more valuable) asset such as a car. Things to consider:

  • Buying a new car could affect pension payments.
  • How you’re affected depends on the income and assets test.
  • It may be in your best interest to tell Centrelink if you buy a new car or if the market value of your car has changed.

Read the full article here: https://nationalseniors.com.au/news/latest-in-finance/cars-and-assets-every-pensioner-needs-to-know-this?