New law to encourage pensioners to downsize their homes
Older Australians are being urged to downsize their homes and free up housing stock for younger families through new legislation before Federal Parliament.
Labor is hoping its new bill to parliament will encourage more pensioners to downsize their properties. (Image source: Shutterstock.com)
A bill introduced to parliament last week is aimed at encouraging Australian pensioners to downsize their property to free up their larger homes younger families and bigger households.
Labor says the exemption is designed to give people more time to purchase, build, rebuild, repair or renovate a new principal home before their pension is affected.
Labor introduced the Social Services and Other Legislation Amendment (Incentivising Pensioners to …
