01/06/14: Budget update (for retirees)

Some further clarification...

The following is a quick, easy to understand summary of some of the key changes impacting retirees. Since the budget was released, we've noticed quite a bit of confusion surrounding the new Age Pension deeming rules (coming into effect from 1 January 2015), and the proposed rules impacting Commonwealth Seniors Health Card holders in January 2015, and July 2014. Hopefully this summary will make things a little clearer.

Of course, these budget measures will need to be passed by Parliament, so it will be interesting to see what the final outcome really is. We'll keep you posted. Rick Maggi, Westmount. Financial Solutions.

Read summary here