Government to encourage retirees to downsize
The Federal Government is reportedly planning to encourage retirees to downsize, in a bid to free up more than 50,000 properties a year for younger buyers.
According to News Corp reports, the measures will encourage downsizing through incentives and lenient rules to the Age Pension asset test, as well as super caps.
A Treasury analysis of the number of properties in major cities occupied by people in retirement has reportedly been commissioned by Treasurer Scott Morrison, to investigate the feasibility of introducing these sorts of reforms for retirees.
But the government has been quick to point out that these reforms would not be designed to actively force older Aussies out of their homes. Instead, they would focus on removing disincentives for doing so, and encouraging more feasible living spaces.
What’s your take? Do you think this move’s a winner? Or are you unconvinced?
Related links:
6 questions to ask when choosing a retirement village
The definitive checklist for downsizing
How to cope with the stress of moving out of the family home