Aged Care Nightmare - Goodbye Inheritance

LAged Care Nightmare on 24/07/2025 - 08:54
Last edited 24/07/2025 - 08:59

I have been reading some posts lately about people stating they will be relying on inheritance to get their way through life, but today I have my story to tell you.

In the previous month my dad (70s) had a fall and is now bed bound. The hospital doctors are recommending he be moved to aged care.

Here is where the problem lies. I need to find a way to find $600,000 for the residential aged care deposit, or pay the daily fee which is the equivalent of $128 a day.

Guess what, my dad has instructed me not to sell the house at any cost. So here I am with the dilemma that I have to find a way to stump up $128 a day to pay for his care.

What have others done to prevent this scenario from happening? Or is the whole "waiting for inheritance" not a real reality?

Further information about me:

I don't have my own house sadly… So, I am regretting skimping on the stamp duty and waiting for the property to pass upon death at the $100 rate… I can tell you that probably in a majority of situations this transfer never even happens because a majority of people will go to aged care and be forced to sell their family home.

Looks bad right? I was pretty upset when he went to the hospital, but now I'm in an even worse position.

Financial

Comments

      • Lunarboogie on 24/07/2025 - 16:00
        +1

        True. There are a few assumptions being bandied about but one old truth holds firm - a watched pot never boils.

        OP seems a little overly fixated by the prospect of an inheritance than his dad's well-being. If he wants coin that much, why not work for it like everyone else?

        • Muppet Detector on 24/07/2025 - 16:48
          +3

          Yeah, the underlying entitlement is gnawing at me.

          Only outdone by the expectation that they get free nursing home whilst they have the ability to pay for it.

  • Gunnar on 24/07/2025 - 09:27
    +35

    I’m unclear if you’re worried about your dad’s wellbeing or your inheritance

    • Aged Care Nightmare on 24/07/2025 - 09:31

      I am just sharing my story because there were previous comments in other threads about people waiting for their inheritance. That isn't the reality for most families and a majority of people will enter aged care at some point in their life.

      I am not sure how others have structured their finances, but I definitely did not see this coming.

      I will be paying all the fees regardless, but I believe the inheritance is now gone. It's just a warning to others that maybe they could do something else instead to protect themselves whilst still ensuring their loved ones get the care they need due to the other government incentives that are available if you don't own your own home.

      Frankly if I accepted the transfer of the house and paid stamp duty a few years ago, I wouldn't have to worry about this at all.

      Are you guys in this similar position, if so, I would recommend you pay the stamp duty.

      • ihbh on 24/07/2025 - 09:41
        +8

        Are you guys in this similar position, if so, I would recommend you pay the stamp duty.

        You mean if you had forked out the stamp duty, you'd have gotten a house at market rate, and you paid your dad for this market value and he would have dough and could pay his way?

        Or do you mean, you would have a free house, less cost of stamp duty and your dad would have free aged care because he doesn't own a house?

      • Jimothy Wongingtons on 24/07/2025 - 10:35
        +13

        inheritance is now gone

        Idk bro many here won’t even HAVE an inheritance to lose let alone stress about losing one…

      • serpserpserp on 24/07/2025 - 13:46
        +2

        The way you get around it is effectively planning 5+ years in advance. That would be to sell the house into a trust for the kids. That isn't cheap, but avoids Dad owning a house.

        I think the time limit is 5 years on the aged care bit. If you think you see it coming and do it two years before Dad hits aged care you'll still have to pay like he owned the asset I believe.

        Anyway, there are ways to get around paying for it. But I am a firm believer that we should pay for our own aged care if we have the means to do so. If you think Dad is going to recover to be able to live at home again one day, then maybe there are other resources you can use. Best to talk to your geriatrician about that.

        • tenpercent on 26/07/2025 - 09:41

          Can Dad live in the house if its in a trust for the kids?

          • serpserpserp on 26/07/2025 - 13:54

            @tenpercent: Of course. But if you are trying to scam rent assistance through a pension, or make out there is a at arms length and commercial lease agreement when it is not for whatever reason that is when it is tricky.

            But if family trust owns the property, they can let anyone they want to live in it for free.

      • cheapcheapazn on 25/07/2025 - 11:24

        Not the exact situation but I reflect on it for when I eventually need to go to aged care. Makes me think that I may not be able to leave the family home to my only child.

      • bmxr on 25/07/2025 - 12:03
        +1

        Sorry you're going through this, we are in the exact same position. But you're not thinking clearly.

        1) You either sell the house, and use that for a RAD - which you will inherit eventually.

        2) Or you pay the daily fees, and keep the house - which you will inherit eventually.

        • MrFunSocks on 25/07/2025 - 15:19
          +1

          Or

          3) you pay the daily fees, and keep the house until you can't afford the fees and then you have to sell the house anyway, at which stage you no longer have the option to pay a lump sum so will continue burning through the money from the sale of the house - then you inherit whatever is left, which could be significantly less than if you just did 1).

          • tenpercent on 26/07/2025 - 09:45

            @MrFunSocks: Or

            4) you pay the daily fees, and keep the house until you can't afford the fees, and then you have to sell the house anyway, at which stage you can pay a lump sum at a different old folks home…

            Or

            5) Do 2 and rent out the house to help pay the daily fees. Any out of pocket costs to pay for any difference in rent + pension and old farts home fees should be considered an investment to take on Dad's home and any capital gains on the property between now and when he passes. This probably works out cheaper than having sold 5 years ago too.

          • serpserpserp on 26/07/2025 - 13:59

            @MrFunSocks: There is a lifetime cap on daily fees you pay. So it'll take 2 or 3 years to hit that cap potentially. Keep the house can hopefully some capital gains might cover some losses. Or if possible, rent it out to cover some of the cost.

            If you have the cashflow to pay for it, in the current environment it would be beneficial to do so and keep the house. If the house is worth a lot of money, on a percentage basis you don't need a lot of capital growth to cover your losses.

    • Jaduqimon on 24/07/2025 - 09:34
      +15

      he wants to make it sound like he is concerned about his dad's wellbeing but at same time susing out ideas to preserve his inheritance.

      otherwise its pretty straight forward. pay the daily rate or put the house as security for the aged care.

      it appears he is also regretting not getting the transfer of the property done earlier because he wanted to avoid stamp duty while his dad is still alive.

      Ultimately, he is saying he should have transferred the property before this happened so he could keep the house under his name and his dad can get free/almost free aged care funded by taxpayers.

      • Aged Care Nightmare on 24/07/2025 - 09:37

        It's too late to preserve it, as far as I'm aware for myself, but yes, it's something for others to discuss.

        Could it have been done differently?

        • JiGaXD on 24/07/2025 - 09:49
          +3

          Think others have already given you the options. There's only a handful of them. Other complicated options might just cloud your judgment.

          1. Fund the aged care yourself
          2. Your dad funds it

          Either way, it sounds like you either sell the house or your dad manages without assistance. The transfer of the house from your dad's name to your name practically just sounds like a waste of money via stamp duty. If you have power of attorney, you can still sell the house, the money goes to your dad to fund aged care costs, if there's any left it'll go to you as inheritance. No need to pay extra stamp duty to government.

        • Lachy2437 on 25/07/2025 - 08:58
          +1

          It sounds like the system is working correctly. It seems like you think your inheritance should be subsidised by the taxpayer which is gross.

          • gromit on 25/07/2025 - 23:59
            +2

            @Lachy2437: No the system is somewhat broken, the fact he could have transferred the property earlier to burden the tax payer is broken. Basically that sort of scam to hide assets needs to be stomped on.

            • Muppet Detector on 26/07/2025 - 10:07

              @gromit: But could he have transferred the property to the son without receiving fair market value in exchange?

              If the father was looking to source any funding (say a pension), from Centrelink, I believe that they look pretty closely at gifts you have given in the last few years or do.

              As with succession law, Centrelink doesn't take too kindly to those who appear to gain advantage by deception.

              Father can't just gift the house and then receive a pension, Centrelink would require him to live on the funds generated from the sale of the house before they started making contributions.

              • gromit on 26/07/2025 - 13:31

                @Muppet Detector: correct, however a lot of people plan ahead, transfer the house etc well in advance so that it doesn't count against pension and asset tests. Personally I think it is a shit situation as basically it rewards families that plan ahead to game the system and punishes those that don't.

                As with succession law, Centrelink doesn't take too kindly to those who appear to gain advantage by deception.

                Correct however Centrelink only goes back in time 5 years. So if planning correctly you completely bypass the Centrelink checks.

                • Muppet Detector on 26/07/2025 - 17:00

                  @gromit: Ah well, for anybody who thinks this kind of work around is a good thing, wait until they find out just what that "free" aged care actually looks like.

                  Imagine how long each minute would take to pass knowing you voluntarily elected to live under those conditions but can now only dream about how nice the end of your life could have been.

                  It'd make watching paint dry seem like an adrenalin rush.

            • Lachy2437 on 26/07/2025 - 17:49

              @gromit: I think the system is broken, I think we should tax inheritance and remove loopholes like those done through super, trusts and gifts. I am just saying that in this case the system is working as it was designed

              • gromit on 26/07/2025 - 22:33

                @Lachy2437: Disagree on taxing inheritance. The tax is already paid on what you earnt. However you should not be able to offload assets to gain tax payer support. It is supposed to be a safety net not a freebie for yourkids.

    • Protractor on 24/07/2025 - 10:39
      -1

      Oh, I thought that was the most obvious part.
      The post title say it all.

    • BigTop on 24/07/2025 - 11:53
      +2

      It’s always wise to be concerned with both….dont kid yourself it’s never about money.

    • unhuman on 25/07/2025 - 09:50

      Its both. I would sell the house. Money can be earnt. No point stressing over it.

  • samyall on 24/07/2025 - 09:35
    +5

    I'm not sure what your problem is here. Either you sell the house, pay the deposit and then when he dies you get bulk back OR pay the fee until he dies and then get the house. Either way you get a sizeable inheritance.

    I hate to say it but you probably wont be waiting that long if he's bed bound.

    If you cant sell the house, can't you either live in it and pay to reduce your housing costs or rent it out and then pay for your dad's care using that money?

    • Aged Care Nightmare on 24/07/2025 - 09:40
      -2

      Yes, this is a good idea, maybe I rent it out and do not tell him that it is being rented out.

      • soan papdi on 24/07/2025 - 10:32

        What about an equity withdrawal. Keep funds it in the offset and pay from that. No idea if this will work but worth a try.

      • derrida derider on 24/07/2025 - 15:03
        +14

        God you owe him honesty as well as love.

        OF COURSE you tell him you've rented it out - it is his house. "Dad, good news. I've found a way to avoid selling the house, just as you wanted. We rent it out for a while and use the rent to pay the care fee."

        Frankly, if your father can't accept that then he is being selfish. Actually I think you both are - you have no right at all to an inheritance (you've done nothing to deserve it except choose your parents wisely) and he should not expect others (either you or the taxpayer) to pay for his care while he himself has the means to do so.

        The government agrees with both of those, which is exactly why taxpayer subsidised aged care is designed to work as backdoor death duties.

      • Muppet Detector on 24/07/2025 - 16:06
        +1

        How does that help him gain access to a care facility?

        It will still show up as an asset (probably complete with tax obligations, not to mention meeting all the obligations and responsibilities of a landlord).

        Rental income is taxable income and subject to affect every allowance, pension, payment and price allocation for the care facility that comes with it.

        Absolutely terrible advice!

        Renting it out at this stage is an absolutely terrible idea!

        Let's not even consider the fact that you need his permission to offer his property for rent

        How you going to keep him in the dark about all the other paperwork he's required to sign and submit to make a rental happen?

        Heck, you can't even take out LL insurance on his behalf without him knowing about it!

      • Muppet Detector on 26/07/2025 - 17:03

        If you rent out his house without telling him, how are you going to spend your inheritance when they put you in jail for fraud?

        At least you might have enough money to make bail.

  • Fredfloresjr on 24/07/2025 - 09:40
    +21

    I work in Aged Care for almost 10 years now, 5 years as a Manager. I have few residents who are paying full daily fees and not wanting to sell their properties nor declare how much they have. I don't see any problems on their end? But heaps from family members. MONEY MONEY MONEY. We are talking Inner West Sydney properties worth around 1.6 to $3M. I even have 1 resident who refuse to sell his house, but what he does, he visits it every morning just to have coffee in there and trim the plants. FAMILIES ARE CRYING as no one lives in there anymore and the house is worth $2M+ lol. When I spoke to the resident, he said that house is his life. So yeah.

    Yes, residents have the full legal capacity to make their decisions. My impression? Yes, you are waiting for the inheritance. Please do ensure to check his WILL, otherwise you are F'd.

    Edit: Welcome to Ozbargain

    • Aged Care Nightmare on 24/07/2025 - 09:54
      +1

      Do you have any ballpark figures on how much of the deposit is usually returned on average for someone going into care for 5 years?

      I don't think my dad has more than a few years to live, sadly.

      • Fredfloresjr on 24/07/2025 - 09:57
        +7

        You Deposit $100, you get $100 back. All deposits are 100% refundable. Aged CARE gets their profits from interests.

        edit: Please check your contract first, my comment is where I work, we refund deposits 100%.

      • Muppet Detector on 26/07/2025 - 17:07

        Meh, you're gonna need any of that money to foot your bail for forgery and/or fraud.

        On a positive note though, nope, was going to compare legal aid to govt funded aged care. Then I remembered, they don't provide legal aid for stuff like this.

  • eftpos on 24/07/2025 - 10:07
    +2

    Have you used the resources on this government site? https://www.myagedcare.gov.au

    • Protractor on 24/07/2025 - 10:50

      The answer is almost always >NO

    • Protractor on 24/07/2025 - 10:49
      +2

      Silly Albo, he should just print more money to run the super lean aged care system. Maybe he should adopt a LNP Robodeath policy?

      PS:I'm super surprised you haven't accused someone in the ALP of killing Ozzie Osbourne,yet.

      • jv on 24/07/2025 - 10:52
        -4

        Silly Albo, he should just print more money to run the super lean aged care system.

        These are pensioners that have paid tax all their lives for services…

        Now he wants to steal their home…
        It's not enough that Jacinta is taxing the hell out of them for daring to own a small holiday home for their retirement…

        These people aren't rich. Their crime is they worked hard and paid off their house to have an easy retirement but too many free loaders want to take it from them.

        • Crow K on 24/07/2025 - 15:05
          +1

          Is there a certain age where you reach it and you don't have to pay taxes anymore?

          This isn't the first time you refer to people "working and paying taxes all their life" and I keep waiting for the extra bit that makes the sentence have some special meaning happen and it never shows up, we just get some vacuous rhetoric about them being 'stolen' from or something?

          • jv on 24/07/2025 - 15:12
            +2

            @Crow K:

            Is there a certain age where you reach it and you don't have to pay taxes anymore?

            These are new taxes that hit the retired harder as they have to pay more tax, but do not have more income as they are retired…

            They hurt the most vulnerable.

            • Crow K on 24/07/2025 - 15:16

              @jv: Luckily there's also new tax concessions and Medicare treatments being offered now that have never been offered before, making todays most vulnerable amongst the most cared for in history etc etc.

              I forgot to drop some random bold words in there so you can just visualize that bit (though if you can't visualize it just imagine what it would look like instead).

              • [Deactivated] on 25/07/2025 - 03:02
                +5

                @Crow K: I’m yet to see that said puff piece about an old retiree saying
                “I’m so happy, the government is so efficient and wonderful and doing a great job at caring for me”

                What I see is:
                people not getting the care they need, people not able to live in their homes, the government running up debt to unsustainable levels that even future generations will suffer for the failings of Albo and co
                People potentially losing their life savings, people losing their homes to pay for failed policies.
                Australia doing nothing and producing nothing
                People unable to live in homes unless it’s social housing
                People unable to afford a home because government taxation is so high that future generations cannot afford to save for it and the government red tape makes the costs of building too high for people to buy.
                Tax cuts for the politicians
                Wage rises for the politicians.
                Erosion of the future of living in Australia

                • Crow K on 25/07/2025 - 09:03
                  -1

                  @[Deactivated]:

                  I’m yet to see that said puff piece about an old retiree saying
                  “I’m so happy, the government is so efficient and wonderful and doing a great job at caring for me

                  Absence of evidence isn't evidence of absence

                  We know for fact there's innovations and new treatments in medical care and aging all the time, and it's the newer stuff that is the best.

                  Aged and medical care now is better than aged care ten years ago, and ten years ago aged care was better than the ten years before that etc, even if you haven't read a improbably worded headline and puff piece telling you so.

          • pennypacker42069 on 25/07/2025 - 15:18

            @Crow K: You stop paying investment tax after you turn 60. If we got rid of this ridiculous rule I’m sure the proceeds could fund the aged care system easily

            • Crow K on 25/07/2025 - 16:54

              @pennypacker42069: I'm not aware of that rule (unless you're referring to superannuation funds not paying tax on the balances that are in Pension mode, which is something different).

            • MrMarket on 25/07/2025 - 21:45

              @pennypacker42069: There is no tax-free rule when you reach the age of 60
              there is super rules when you are reaching retirement age at 60

              your super account has to be in pension mode to get tax free treatment, and it cap at 2m, everything else get tax the way they are
              when your account is in pension mode, you are forced to withdraw every year starting at 4% and that ratio increase with age
              the money you withdraw is now outside super and get tax at marginal rate

        • Muppet Detector on 24/07/2025 - 16:23
          -1

          Now he wants to steal their home

          No, he doesn't. He wants those who are able to pay their own way to pay it.

          These are pensioners that have paid tax all their lives for services…

          And they've received services and will continue to receive services, right up until they die.

          He never paid tax to contribute towards the inheritance for his son.

          These people aren't rich. Their crime is they worked hard and paid off their house to have an easy retirement but too many free loaders want to take it from them.

          Only because they need to live somewhere else now and they need to pay for the place they now want to live.

          Just because we own one home, doesn't mean we don't have to pay for any additional places we choose to live!

          I've been buying houses since I was 17, how many of those do you reckon I should be allowed to hang on to and then get the government to pay me a pension and a place in a nursing home?

        • Muppet Detector on 24/07/2025 - 16:26
          +1

          Their crime is they worked hard and paid off their house to have an easy retirement but too many free loaders want to take it from them.

          The dude has already retired, now he's getting ready to prepare for the end of his life.

        • [Deactivated] on 25/07/2025 - 02:53
          -2

          Agreed, Albo and co are grubby greedy (profanity) hell bent on destroying this country.

          Watch Australia’s living standards erode over the next decade.

          Time to offshore the trust structure.

        • wetsandwich on 25/07/2025 - 11:41

          Government pensions are supposed to be non-luxurious backups for if you didn't do things properly to prepare though. If the dude is basically a property millionaire, why do poor people have to pay to fund his nursing home bed?

          • jv on 25/07/2025 - 11:48

            @wetsandwich:

            If the dude is basically a property millionaire

            It's his home. Not an investment. It should not be counted as an investment asset.

            Some people choose to work hard and pay off their house, others prefer to gamble, smoke, drink and throw away their money. We should not be penalising people doing the right thing and subsiding those that don't.

            • Muppet Detector on 25/07/2025 - 13:10

              @jv:

              It's his home. Not an investment. It should not be counted as an investment asset.

              But it stops being his home when he leaves there to live somewhere else => in this case, the nursing home.

              • jv on 25/07/2025 - 13:12

                @Muppet Detector:

                But it stops being his home when he leaves there

                No it doesn't.

        • gromit on 26/07/2025 - 13:57
          +1

          If they are so poor as to require government assistance then chances are taxes they have paid have not come close to covering the costs of the services they have consumed.

      • surg3on on 25/07/2025 - 12:00

        OMG did Dan Andrews kill Ozzy?!

    • serpserpserp on 24/07/2025 - 13:47

      Think the rules were put in place over a decade ago

      • jv on 24/07/2025 - 13:52
        +1

        Nah, new rules late last year.

        • serpserpserp on 24/07/2025 - 14:46

          What was the rule changes?

            • [Deactivated] on 25/07/2025 - 03:15
              +1

              @jv: FFS Albo’s model is the equivalent of a noose around the neck of every pensioner.

              Why doesn’t he just say “under a labor government, we’ll give every pensioner a copy of “the peaceful pill” by Dr Phillip Nitschke. In doing this we will save the government $30 billion over the next decade.

              • [Deactivated] on 25/07/2025 - 03:20
                -3

                @[Deactivated]: Meanwhile our NDIS spend has ballooned, but don’t worry, our little Gaza flag waving purple haired transient can now pronounce “they/them” and “Medicare funded sex change” via our speech therapy efforts funded through the NDIS.

                NDIS recipients

                • Crow K on 25/07/2025 - 09:14
                  +4

                  @[Deactivated]: How is anyone meant to take you seriously if your talking points are "pensioners might as well kill themselves" and "the top 10 list of culture war battles from Sky News"?

                  Have you wandered from a boomer containment zone on Facebook? Do you need help getting back there?

                  • Crow K on 30/07/2025 - 08:20

                    @Crow K: People usually wonder who the [Deactivated] gronks are when they view the thread later.

                    Let this page and comment serve as the memorial to "alec83937" or whatever bunch of numbers he thought best summed up his Direct From Sky News personality.

                    He had nothing original to say and he said it badly. May he be remembered in the same way he engaged with us (poorly).

                • Muppet Detector on 26/07/2025 - 17:46

                  @[Deactivated]:

                  purple haired transient can now pronounce “they/them” and “Medicare funded sex change” via our speech therapy efforts funded through the NDIS.

                  What are you saying NDIS is providing funding to LGBTQ+ participants for?

                  Can't work out how Medicare funded transitioning is connected to who is given access to NDIS?

                  NDIS is for disability.

                  Are you meaning that you don't think LGBTQ+ can have a disability that enables them to access NDIS?

                  Don't understand the speech therapy reference either?

    • Muppet Detector on 24/07/2025 - 16:15
      +3

      Only other solution is to transfer the house to another person before they need aged care so it's not counted as an asset…

      They look strongly at this, they don't like it and they give you the whole sideways shifty eye stare when you do this.

      If it's done to close to a triggering event (such as before death or move to aged care or Centrelink application), it could be considered a gift that can be clawed back, particularly if the purpose is thought to be acting dishonestly (trying to hide assets to avoid fees for eg) and providing an unfair advantage.

      Something in the area of deception to gain financial benefit or advantage.

    • Muppet Detector on 26/07/2025 - 17:29

      Grrrrr

      Just read where Albo gave Trump the green light to inject his biosecurity hazard into Australia.

      We've got the purest and most pristine red meat for anywhere in the world and we've been fighting for decades to keep their contaminated crap yo themselves and then Albo wraps our jugulars in bows and ribbons when we already produce enough of our own beef here that we export almost 1.5 million tonnes of the stuff, with 400,000 metric tonnes of that ($3 Billion) going to USA.

      Maximum beef USA can export to anywhere is 279 Tonnes, and Albo volunteers to give our beef supply a shot at Trump's Mad Cow Disease infected crap!

      Prepared to gamble $AU11.3 billion and bring the industry to its knees as collateral damage. For What? Run out of every other available resource with which to negotiate trade agreements?

      Seems to me that it's not Trump who's looking like the muppet atm.

  • Drakesy on 24/07/2025 - 11:12
    +1

    Looks like you have 1 option.

    Sell the house…

    • jv on 24/07/2025 - 11:14
      +2

      Nope.

      RENT out the house is another option.

      • Drakesy on 24/07/2025 - 11:28

        I mean if the house is returning $900+ in rent per week you could…

        • tenpercent on 24/07/2025 - 11:39
          +1

          Even if it was only returning $500 pw in rent, OP could fork out for the remainder himself and/or use some of Dad's pension. Consider the out of pocket expenses an investment to get access to additional capital gains from Dad's property (versus selling it now).

          • Muppet Detector on 26/07/2025 - 17:56

            @tenpercent: If father and son are skint, from where do they get the funds to support a rental property should it ever need repairs, maintenance or becomes vacant for some reason?

            $1k a week will go nowhere if there's a $60k burst pipe. Assuming of course, the house is already up to the required legal code to operate as a rental and doesn't require a sizeable cash injection to make it fit for purpose.

            Any coin in the coffers for emergency repairs? LL gets 2 days to fix emergency repairs and 2 weeks to fix the non urgent ones.

            How is OP going to get on board with that?

            And doesn't sound like OP could organise a piss up in a brewery, how's he going to manage a rental property?

            • tenpercent on 26/07/2025 - 20:22

              @Muppet Detector:

              Any coin in the coffers for emergency repairs?

              You'll have to ask the OP.
              Perhaps Dad can move in with son for the first two months and the rental income can be stashed away as part of a rainy day emergency fund? Lots of options to come up with the cash. But that's for another post.

              $1k a week will go nowhere if there's a $60k burst pipe.

              That's what insurance is for.

              how's he going to manage a rental property?

              With a property manager, presumably.

        • jv on 24/07/2025 - 12:09
          +1

          I mean if the house is returning $900+ in rent per week you could…

          Anything they get will help offset the $900…

          Also, the rent income would probably be taxed free or low tax as I assume the dad is not longer working and has no other income.

          • Muppet Detector on 24/07/2025 - 16:37
            +1

            @jv:

            no other income.

            You mean apart from his Centrelink payments?

            And if father doesn't have two quid in his pocket now, from where is he going to get the funds to address the first big repair he gets?

            And if the property remains or becomes vacant?

            Renting the house doesn't reduce your asset pool, but it does increase his insurance, at the very least.

            And if he has no other income, how is he creating an offset?

            The dude has no money, he can't afford to service a rental property.

            • jv on 25/07/2025 - 12:03

              @Muppet Detector: Rental income usually > Costs, otherwise, raise the rent…

              • Muppet Detector on 25/07/2025 - 12:15

                @jv: Your house will remain vacant if it is listed above market rent.

                If father is relying on rental income to make weekly payments, what happens during periods of non occupancy?

                No occupancy equals no income.

                Besides, I think the issue here is raising the lump sum buy in isn't it?

                Old mate can use pension towards weekly contributions, no need to generate a weekly income once you've gained occupancy.

                • jv on 25/07/2025 - 12:21

                  @Muppet Detector:

                  Your house will remain vacant if it is listed above market rent.

                  Not for long, with close to half a million migrants arriving each year…

                  Doubt we can build enough houses… Rents will just keep going up and up and up…

                  • Muppet Detector on 26/07/2025 - 18:06

                    @jv: Can only raise rent once every twelve months. For how long are we expecting father to live to claw back enough money to pay for stuff that needs fixing now?

                    Doesn't seem like there's anything much in the kitty atm to cover things until those uncapped rental increases can kick in.

                    If he can't find $150 a day to get dad in the door, how's he going to pay for the initial fire, gas and electrical compliance costs even assuming everything else is good to go.

                    There are some people who are suited to providing rental accomodation. If you think that this dude is one of them, I've got this bridge to sell…

          • surg3on on 25/07/2025 - 12:01
            +2

            @jv: I cant believe Im saying this but… JV is right

      • Muppet Detector on 24/07/2025 - 16:28

        Noooooo

    • [Deactivated] on 25/07/2025 - 03:28
      +3

      Option C
      Bomb Parliament House…?

      I believe in our pensioner and boomer “can do attitude” they won us ww2, paid their taxes. they know how to fight for their rights.

      I’m sure they can find where a 4.3million dollar house our tax dollars have funded. If granny needs help googling where (shhh!) shes now a suspect.

      https://www.realestate.com.au/news/prime-minister-anthony-al…

      • jv on 25/07/2025 - 12:06
        -1

        He's also using $100million tax payer money to upgrade the road to his new $5million house

        https://www.dailymail.co.uk/news/article-13968057/Anthony-Al…

        I wonder if Albo will still gets free aged card too after he gets his tax payer funded $10million super payout…

      • Muppet Detector on 26/07/2025 - 18:10

        Whoever bombs that will get tax funded care and accomodation of a different kind to what is being discussed here though.

        Damn, this kid is on fire! If the old man does that, kid gets to double dip!

  • ForkSnorter on 24/07/2025 - 11:33
    +6

    Looking forward to an inheritance will cheapen your character, blunt your ambition, and stain your achievements.

    • jv on 24/07/2025 - 13:52
      +5

      No excuse for governments and free loaders to steal it from you

      • Muppet Detector on 24/07/2025 - 16:38

        It's not stealing. It's paying for what you need.

        • jv on 24/07/2025 - 18:48

          It is stealing.

          They’ve already paid taxes their whole lives.

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